MQS Management LLC Purchases Shares of 7,045 Southwest Gas Corporation (NYSE:SWX)

MQS Management LLC bought a new position in Southwest Gas Corporation (NYSE:SWX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,045 shares of the utilities provider's stock, valued at approximately $506,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in Southwest Gas by 1,055.0% during the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock worth $33,000 after purchasing an additional 422 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Southwest Gas by 1,001.8% during the first quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock valued at $44,000 after buying an additional 551 shares during the last quarter. UMB Bank n.a. grew its holdings in Southwest Gas by 41.2% during the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock worth $60,000 after buying an additional 243 shares in the last quarter. GAMMA Investing LLC raised its position in Southwest Gas by 78.8% in the 1st quarter. GAMMA Investing LLC now owns 869 shares of the utilities provider's stock valued at $62,000 after buying an additional 383 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in Southwest Gas by 94,500.0% during the 4th quarter. AlphaQuest LLC now owns 946 shares of the utilities provider's stock valued at $67,000 after acquiring an additional 945 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Stock Performance

Shares of SWX stock traded up $0.58 during trading on Monday, reaching $77.62. 320,155 shares of the company's stock traded hands, compared to its average volume of 438,604. The firm's 50-day moving average is $72.74 and its 200 day moving average is $73.02. The company has a market capitalization of $5.58 billion, a P/E ratio of 24.96, a PEG ratio of 1.97 and a beta of 0.48. Southwest Gas Corporation has a 1 year low of $64.31 and a 1 year high of $80.29. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its earnings results on Monday, May 12th. The utilities provider reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.04. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 earnings per share. Equities research analysts expect that Southwest Gas Corporation will post 3.03 EPS for the current year.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, August 15th. Southwest Gas's payout ratio is presently 79.74%.

Analyst Upgrades and Downgrades

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

Southwest Gas Company Profile

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.