Kingsview Wealth Management LLC Invests $2.44 Million in Southwest Gas Corporation (NYSE:SWX)

Kingsview Wealth Management LLC bought a new position in Southwest Gas Corporation (NYSE:SWX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,035 shares of the utilities provider's stock, valued at approximately $2,444,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zimmer Partners LP lifted its position in shares of Southwest Gas by 884.4% in the fourth quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider's stock worth $64,390,000 after buying an additional 818,115 shares during the last quarter. Norges Bank bought a new position in shares of Southwest Gas in the fourth quarter worth about $51,011,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Southwest Gas by 111.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the utilities provider's stock worth $63,639,000 after purchasing an additional 475,000 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Southwest Gas by 83.3% in the fourth quarter. JPMorgan Chase & Co. now owns 505,555 shares of the utilities provider's stock worth $35,748,000 after purchasing an additional 229,739 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in shares of Southwest Gas by 328.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 223,746 shares of the utilities provider's stock worth $15,821,000 after purchasing an additional 171,478 shares during the period. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Stock Up 1.2%

NYSE SWX opened at $77.89 on Friday. The firm has a market cap of $5.60 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.99 and a beta of 0.48. Southwest Gas Corporation has a one year low of $64.31 and a one year high of $80.29. The stock's 50 day simple moving average is $72.97 and its 200 day simple moving average is $73.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.04. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.50 billion. Southwest Gas had a return on equity of 6.76% and a net margin of 4.66%. The business's quarterly revenue was down 18.0% compared to the same quarter last year. During the same period last year, the company earned $1.37 EPS. As a group, sell-side analysts forecast that Southwest Gas Corporation will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.18%. Southwest Gas's dividend payout ratio (DPR) is presently 79.74%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SWX shares. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. Jefferies Financial Group upgraded Southwest Gas from a "hold" rating to a "buy" rating and boosted their price target for the company from $74.00 to $82.00 in a research note on Tuesday, July 8th. Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $69.00 to $74.00 in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.25.

About Southwest Gas

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.

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