Private Advisor Group LLC Buys New Shares in Southwest Gas Corporation (NYSE:SWX)

Key Points

• Private Advisor Group LLC invested approximately $307,000 to purchase 4,278 shares of Southwest Gas Corporation (NYSE:SWX) in the first quarter.
• Southwest Gas reported an earnings per share (EPS) of $1.65, exceeding analysts' expectations by $0.04, despite a revenue drop of 18% year-over-year.
• Several analysts have recently upgraded Southwest Gas's rating, with a consensus rating of "Moderate Buy" and a price target of $77.25.

Private Advisor Group LLC purchased a new stake in Southwest Gas Corporation (NYSE:SWX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 4,278 shares of the utilities provider's stock, valued at approximately $307,000.

Several other large investors have also made changes to their positions in the company. FMR LLC raised its holdings in Southwest Gas by 3.3% in the 4th quarter. FMR LLC now owns 3,322,085 shares of the utilities provider's stock worth $234,905,000 after acquiring an additional 105,549 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Southwest Gas by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,030,283 shares of the utilities provider's stock worth $72,850,000 after buying an additional 27,407 shares during the last quarter. Zimmer Partners LP increased its holdings in Southwest Gas by 884.4% in the 4th quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider's stock valued at $64,390,000 after buying an additional 818,115 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Southwest Gas by 111.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the utilities provider's stock valued at $63,639,000 after purchasing an additional 475,000 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Southwest Gas by 13.6% in the 4th quarter. Northern Trust Corp now owns 818,023 shares of the utilities provider's stock worth $57,842,000 after purchasing an additional 97,709 shares during the period. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Stock Performance

Shares of NYSE:SWX traded up $1.89 during midday trading on Monday, hitting $79.74. The company's stock had a trading volume of 183,024 shares, compared to its average volume of 431,068. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.99 and a beta of 0.49. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Southwest Gas Corporation has a fifty-two week low of $64.31 and a fifty-two week high of $80.29. The stock's 50 day simple moving average is $74.74 and its 200 day simple moving average is $73.84.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Jefferies Financial Group raised shares of Southwest Gas from a "hold" rating to a "buy" rating and upped their price objective for the company from $74.00 to $82.00 in a report on Tuesday, July 8th. Wall Street Zen raised Southwest Gas from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $69.00 to $74.00 in a research report on Friday, May 23rd. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. decreased their price objective 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 investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Southwest Gas currently has a consensus rating of "Moderate Buy" and a consensus price target 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.