Signet Financial Management LLC Takes $312,000 Position in Southwest Gas Corporation $SWX

Key Points

• Signet Financial Management LLC acquired a new stake in Southwest Gas Corporation worth approximately $312,000, during the 2nd quarter, adding 4,194 shares to their portfolio.
• Southwest Gas recently reported $0.53 earnings per share for the quarter, surpassing analysts' estimates of $0.42, but its revenue of $1.12 billion fell short of expectations.
• The company announced a quarterly dividend of $0.62 per share, representing an annualized dividend of $2.48 and a yield of 3.2%, with the dividend payout ratio currently at 92.54%.

Signet Financial Management LLC acquired a new stake in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,194 shares of the utilities provider's stock, valued at approximately $312,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Golden State Wealth Management LLC raised its position in Southwest Gas by 1,001.8% in the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock worth $44,000 after purchasing an additional 551 shares during the period. Atria Wealth Solutions Inc. raised its position in Southwest Gas by 99.5% in the 1st quarter. Atria Wealth Solutions Inc. now owns 7,219 shares of the utilities provider's stock worth $518,000 after purchasing an additional 3,600 shares during the period. Strs Ohio purchased a new position in Southwest Gas in the 1st quarter worth $1,163,000. Voleon Capital Management LP purchased a new position in Southwest Gas in the 1st quarter worth $332,000. Finally, Optimize Financial Inc purchased a new position in Southwest Gas in the 1st quarter worth $249,000. Hedge funds and other institutional investors own 92.77% of the company's stock.

Southwest Gas Price Performance

SWX stock opened at $78.04 on Friday. The firm's 50-day moving average price is $78.47 and its two-hundred day moving average price is $74.76. Southwest Gas Corporation has a 12-month low of $64.69 and a 12-month high of $80.54. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 2.05 and a beta of 0.55. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.07.

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

Southwest Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.62 per share. The ex-dividend date is Monday, November 17th. This represents a $2.48 annualized dividend and a dividend yield of 3.2%. Southwest Gas's payout ratio is currently 92.54%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America upgraded shares of Southwest Gas from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $76.00 to $84.00 in a research report on Friday, August 29th. Jefferies Financial Group lifted their target price on shares of Southwest Gas from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Finally, Wall Street Zen upgraded shares of Southwest Gas from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $82.33.

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.

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