Peregrine Capital Management LLC Trims Stake in Southwest Gas Corporation (NYSE:SWX)

Peregrine Capital Management LLC reduced its holdings in Southwest Gas Corporation (NYSE:SWX - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,867 shares of the utilities provider's stock after selling 16,902 shares during the period. Peregrine Capital Management LLC owned about 0.09% of Southwest Gas worth $4,657,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SWX. Farther Finance Advisors LLC grew its holdings in Southwest Gas by 1,055.0% in the first quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 422 shares during the period. Golden State Wealth Management LLC grew its holdings in Southwest Gas by 1,001.8% in the first quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 551 shares during the period. UMB Bank n.a. grew its holdings in Southwest Gas by 41.2% in the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 243 shares during the period. GAMMA Investing LLC grew its holdings in Southwest Gas by 78.8% in the first quarter. GAMMA Investing LLC now owns 869 shares of the utilities provider's stock valued at $62,000 after purchasing an additional 383 shares during the period. Finally, AlphaQuest LLC grew its holdings in Southwest Gas by 94,500.0% in the fourth quarter. AlphaQuest LLC now owns 946 shares of the utilities provider's stock valued at $67,000 after purchasing an additional 945 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Trading Up 0.2%

Southwest Gas stock traded up $0.15 during trading on Friday, reaching $73.90. 275,171 shares of the company were exchanged, compared to its average volume of 378,512. Southwest Gas Corporation has a 52-week low of $64.31 and a 52-week high of $80.29. The company has a market capitalization of $5.31 billion, a P/E ratio of 23.76, a PEG ratio of 2.01 and a beta of 0.48. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The stock's 50 day simple moving average is $72.49 and its two-hundred day simple moving average is $72.81.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.04. Southwest Gas had a return on equity of 6.76% and a net margin of 4.66%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $1.37 earnings per share. The firm's revenue was down 18.0% compared to the same quarter last year. On average, equities research analysts expect that Southwest Gas Corporation will post 3.03 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.36%. Southwest Gas's dividend payout ratio is currently 79.74%.

Wall Street Analysts Forecast Growth

SWX has been the topic of several research analyst reports. Wall Street Zen raised Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. lowered their price target on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. Finally, Bank of America raised Southwest Gas from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $69.00 to $74.00 in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

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.