Mackenzie Financial Corp Has $1.01 Million Stake in Southwest Gas Corporation (NYSE:SWX)

Key Points

• Mackenzie Financial Corp increased its stake in Southwest Gas Corporation by 41.8%, now holding 14,001 shares valued at approximately $1,005,000 as per its recent SEC filing.
• Southwest Gas reported a quarterly earnings per share (EPS) of $1.65, slightly surpassing analysts' expectations of $1.61, despite a revenue drop of 18.0% compared to the previous year.
• Equity analysts have mixed ratings on Southwest Gas, with price targets ranging from $69.00 to $82.00, reflecting a moderate buy consensus.

Mackenzie Financial Corp grew its stake in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 41.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,001 shares of the utilities provider's stock after acquiring an additional 4,129 shares during the period. Mackenzie Financial Corp's holdings in Southwest Gas were worth $1,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SWX. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Southwest Gas by 2.7% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 23,126 shares of the utilities provider's stock valued at $1,660,000 after purchasing an additional 611 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Southwest Gas by 40.4% in the first quarter. Cetera Investment Advisers now owns 10,976 shares of the utilities provider's stock valued at $788,000 after purchasing an additional 3,159 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Southwest Gas in the first quarter valued at $201,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Southwest Gas by 75.8% in the first quarter. Y Intercept Hong Kong Ltd now owns 24,221 shares of the utilities provider's stock valued at $1,739,000 after purchasing an additional 10,445 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Southwest Gas by 24.2% in the first quarter. Allianz Asset Management GmbH now owns 7,806 shares of the utilities provider's stock valued at $560,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

Southwest Gas Stock Down 0.4%

NYSE:SWX traded down $0.28 during trading hours on Friday, reaching $78.38. The company's stock had a trading volume of 333,038 shares, compared to its average volume of 411,174. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.79. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 2.01 and a beta of 0.49. Southwest Gas Corporation has a one year low of $64.69 and a one year high of $80.29. The business's 50-day moving average is $75.47 and its 200-day moving average is $74.03.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.17 billion. Southwest Gas had a return on equity of 6.98% and a net margin of 4.06%. The business's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts predict that Southwest Gas Corporation will post 3.03 EPS for the current year.

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.