Kayne Anderson Capital Advisors LP Takes Position in Southwest Gas Corporation $SWX

Key Points

• Kayne Anderson Capital Advisors acquired 266,765 Southwest Gas shares worth approximately $23.7 million, giving it a 0.37% stake; institutional investors collectively own 92.77% of the company.
• Analysts maintain a favorable outlook, with seven Buy ratings and one Hold rating, resulting in a “Moderate Buy” consensus and an average price target of $98.29.
• Southwest Gas matched quarterly EPS expectations at $0.45 but revenue fell 9.6% year over year to $358.2 million. The company also declared a $0.645 quarterly dividend, equating to a 2.8% annualized yield.

Kayne Anderson Capital Advisors LP acquired a new position in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 266,765 shares of the utilities provider's stock, valued at approximately $23,657,000. Southwest Gas comprises approximately 0.5% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 26th largest holding. Kayne Anderson Capital Advisors LP owned about 0.37% of Southwest Gas at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Southwest Gas in the 2nd quarter valued at about $991,549,000. Bank of New York Mellon Corp acquired a new position in shares of Southwest Gas in the second quarter worth approximately $74,324,000. Norges Bank bought a new stake in Southwest Gas in the fourth quarter valued at approximately $66,930,000. BROOKFIELD Corp ON increased its position in Southwest Gas by 106.9% during the 1st quarter. BROOKFIELD Corp ON now owns 699,626 shares of the utilities provider's stock valued at $60,797,000 after purchasing an additional 361,556 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Southwest Gas by 281.2% during the 1st quarter. Renaissance Technologies LLC now owns 459,000 shares of the utilities provider's stock worth $39,887,000 after purchasing an additional 338,600 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Southwest Gas from $105.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. UBS Group set a $100.00 target price on shares of Southwest Gas in a research report on Thursday, May 7th. Mizuho set a $103.00 price target on shares of Southwest Gas in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of Southwest Gas from a "buy (a-)" rating to a "buy (b)" rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised shares of Southwest Gas from a "neutral" rating to an "overweight" rating and set a $100.00 price objective on the stock in a research report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $98.29.

Southwest Gas Stock Performance

Shares of SWX opened at $91.33 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.18 and a beta of 0.57. The stock has a 50 day moving average of $90.68 and a 200 day moving average of $89.05. Southwest Gas Corporation has a 12 month low of $75.75 and a 12 month high of $94.46.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.45 EPS for the quarter, hitting analysts' consensus estimates of $0.45. Southwest Gas had a return on equity of 6.91% and a net margin of 31.85%.The business had revenue of $358.15 million for the quarter, compared to analyst estimates of $416.20 million. During the same period last year, the company posted ($0.18) earnings per share. Southwest Gas's quarterly revenue was down 9.6% compared to the same quarter last year. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. As a group, sell-side analysts forecast that Southwest Gas Corporation will post 4.25 earnings per share for the current year.

Southwest Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.645 per share. The ex-dividend date is Monday, August 17th. This represents a $2.58 annualized dividend and a yield of 2.8%. Southwest Gas's dividend payout ratio is presently 33.68%.

Southwest Gas 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source