Magellan Asset Management Ltd Acquires Shares of 77,010 Southwest Gas Corporation $SWX

Magellan Asset Management Ltd bought a new position in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 77,010 shares of the utilities provider's stock, valued at approximately $6,829,000. Magellan Asset Management Ltd owned approximately 0.11% of Southwest Gas as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bell Investment Advisors Inc purchased a new stake in Southwest Gas during the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of Southwest Gas by 223.5% in the second quarter. EverSource Wealth Advisors LLC now owns 440 shares of the utilities provider's stock worth $33,000 after acquiring an additional 304 shares during the last quarter. Kingdom Financial Group LLC. purchased a new stake in shares of Southwest Gas during the fourth quarter worth approximately $56,000. Harbour Investments Inc. increased its position in shares of Southwest Gas by 301.0% during the fourth quarter. Harbour Investments Inc. now owns 834 shares of the utilities provider's stock worth $67,000 after purchasing an additional 626 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Southwest Gas by 21.3% in the 2nd 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 last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Price Performance

Shares of SWX stock opened at $88.98 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.83 and a quick ratio of 0.71. The company has a market capitalization of $6.45 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57. The firm's 50-day moving average is $90.68 and its two-hundred day moving average is $89.09. Southwest Gas Corporation has a 12 month low of $76.17 and a 12 month high of $94.46.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.45 EPS for the quarter, meeting analysts' consensus estimates of $0.45. Southwest Gas had a return on equity of 6.91% and a net margin of 31.85%.The firm had revenue of $358.15 million for the quarter, compared to analysts' expectations of $416.20 million. During the same period in the prior year, the firm posted ($0.18) earnings per share. The firm's quarterly revenue was down 9.6% on a year-over-year basis. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. Analysts predict that Southwest Gas Corporation will post 4.25 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently disclosed 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. This represents a $2.58 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 17th. Southwest Gas's dividend payout ratio (DPR) is presently 33.68%.

Analyst Ratings Changes

SWX has been the topic of several recent research reports. JPMorgan Chase & Co. raised shares of Southwest Gas from a "neutral" rating to an "overweight" rating and set a $100.00 target price on the stock in a research note on Thursday, May 7th. Wells Fargo & Company raised their target price on shares of Southwest Gas from $105.00 to $107.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Weiss Ratings cut Southwest Gas from a "buy (a-)" rating to a "buy (b)" rating in a report on Monday, August 17th. UBS Group set a $100.00 price target on Southwest Gas in a research report on Thursday, May 7th. Finally, Wall Street Zen cut Southwest Gas from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $98.29.

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.

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