3,469 Shares in Southwest Gas Corporation $SWX Acquired by Optimize Financial Inc

Key Points

• Optimize Financial Inc has acquired 3,469 shares of Southwest Gas Corporation, valued at approximately $249,000, during the first quarter according to its Form 13F filing with the SEC.
• Analyst ratings for Southwest Gas have varied, with Jefferies Financial Group upgrading the stock to a "buy" rating and a target price increase to $82.00, while JPMorgan Chase lowered their target from $79.00 to $75.00.
• Southwest Gas reported a quarterly EPS of $0.53, exceeding analysts’ expectations of $0.42, although its revenue of $1.12 billion fell short of estimates of $1.17 billion.

Optimize Financial Inc purchased a new stake in Southwest Gas Corporation (NYSE:SWX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,469 shares of the utilities provider's stock, valued at approximately $249,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Southwest Gas by 1,055.0% in the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 422 shares during the last quarter. Headlands Technologies LLC lifted its stake in Southwest Gas by 144.0% during the first quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock valued at $37,000 after buying an additional 301 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in 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 in the last quarter. Quarry LP lifted its stake in Southwest Gas by 118.3% during the first quarter. Quarry LP now owns 751 shares of the utilities provider's stock valued at $54,000 after buying an additional 407 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Southwest Gas by 41.2% during the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock valued at $60,000 after buying an additional 243 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SWX. Bank of America raised shares of Southwest Gas from a "neutral" rating to a "buy" rating and upped their price objective for the company from $76.00 to $84.00 in a research note on Friday, August 29th. Jefferies Financial Group upped their price objective on shares of Southwest Gas from $82.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Southwest Gas from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $81.25.

Southwest Gas Stock Down 0.7%

Shares of NYSE SWX traded down $0.54 during mid-day trading on Friday, reaching $78.56. The company had a trading volume of 369,479 shares, compared to its average volume of 353,490. The stock's 50 day moving average is $77.99 and its 200-day moving average is $74.46. Southwest Gas Corporation has a twelve month low of $64.69 and a twelve month high of $80.54. The stock has a market capitalization of $5.65 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 2.05 and a beta of 0.55. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.94 and a current ratio of 1.01.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. Southwest Gas had a return on equity of 6.98% and a net margin of 4.06%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The firm's revenue was down 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Southwest Gas Corporation will post 3.03 earnings per share for the current fiscal year.

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.