Jupiter Topco LLC Invests $2.38 Million in Southwest Gas Corporation $SWX

Key Points

• Jupiter Topco LLC acquired 26,877 shares of Southwest Gas in the second quarter, valued at approximately $2.38 million. Institutional investors collectively own 92.77% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $100.67.
• Southwest Gas reported quarterly EPS of $0.45, in line with estimates, though revenue fell 9.6% year over year to $358.15 million. The company also pays a quarterly dividend of $0.645 per share, representing a 2.9% annualized yield.

Jupiter Topco LLC purchased a new position in Southwest Gas Corporation (NYSE:SWX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 26,877 shares of the utilities provider's stock, valued at approximately $2,384,000.

Several other institutional investors and hedge funds have also modified their holdings of SWX. Envestnet Portfolio Solutions Inc. grew its position in shares of Southwest Gas by 1.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,837 shares of the utilities provider's stock valued at $867,000 after acquiring an additional 132 shares during the period. Illinois Municipal Retirement Fund raised its holdings in Southwest Gas by 1.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 10,431 shares of the utilities provider's stock worth $835,000 after purchasing an additional 135 shares during the period. GAMMA Investing LLC lifted its position in Southwest Gas by 8.5% during the second quarter. GAMMA Investing LLC now owns 1,960 shares of the utilities provider's stock valued at $174,000 after purchasing an additional 153 shares in the last quarter. LPL Financial LLC lifted its position in Southwest Gas by 1.1% during the fourth quarter. LPL Financial LLC now owns 14,500 shares of the utilities provider's stock valued at $1,160,000 after purchasing an additional 159 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Southwest Gas by 21.3% during the second quarter. Daiwa Securities Group Inc. now owns 939 shares of the utilities provider's stock valued at $70,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 92.77% of the company's stock.

Analyst Upgrades and Downgrades

SWX has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Southwest Gas from $105.00 to $107.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Mizuho set a $103.00 price objective on Southwest Gas in a research report on Wednesday, August 5th. Wall Street Zen downgraded Southwest Gas from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Southwest Gas from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Finally, UBS Group set a $100.00 target price on shares of Southwest Gas in a research note on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.67.

Southwest Gas Stock Performance

NYSE SWX opened at $89.05 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 0.99. Southwest Gas Corporation has a 1-year low of $76.59 and a 1-year high of $94.46. The business has a 50 day simple moving average of $90.83 and a two-hundred day simple moving average of $89.40. The stock has a market capitalization of $6.45 billion, a PE ratio of 11.63, a P/E/G ratio of 2.12 and a beta of 0.57.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $358.15 million for the quarter, compared to analysts' expectations of $416.20 million. Southwest Gas had a return on equity of 6.79% and a net margin of 31.85%.The company's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, research analysts predict that Southwest Gas Corporation will post 4.25 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.645 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $2.58 dividend on an annualized basis and a yield of 2.9%. Southwest Gas's dividend payout ratio is presently 33.68%.

Southwest Gas Company Profile

Southwest Gas Corporation NYSE: SWX is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company's core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation's larger natural gas utilities by customer count.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.