Ontario Teachers Pension Plan Board Has $5.06 Million Position in Southwest Gas Corporation (NYSE:SWX)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Southwest Gas Corporation by 9.0%, now owning approximately $5.06 million worth of shares.
• Southwest Gas reported an earnings per share (EPS) of $1.65, exceeding analysts' estimates of $1.61, although its revenue of $1.30 billion fell short of the predicted $1.50 billion.
• Analysts have mixed views on Southwest Gas, with upgrades from Jefferies Financial Group and Bank of America, while JPMorgan Chase lowered its price target, indicating a diverse outlook for the company's stock.

Ontario Teachers Pension Plan Board raised its position in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,496 shares of the utilities provider's stock after buying an additional 5,810 shares during the period. Ontario Teachers Pension Plan Board owned about 0.10% of Southwest Gas worth $5,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted 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 lifted its holdings in Southwest Gas by 1,001.8% during the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock worth $44,000 after buying an additional 551 shares during the last quarter. UMB Bank n.a. lifted its holdings in Southwest Gas by 41.2% during the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock worth $60,000 after buying an additional 243 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Southwest Gas by 78.8% during the 1st quarter. GAMMA Investing LLC now owns 869 shares of the utilities provider's stock worth $62,000 after buying an additional 383 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Southwest Gas during the first quarter worth about $63,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research report on Friday, May 9th. 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 report on Wednesday, May 28th. Jefferies Financial Group upgraded Southwest Gas from a "hold" rating to a "buy" rating and upped their price target for the stock from $74.00 to $82.00 in a report on Tuesday, July 8th. Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Finally, Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and increased their target price for the company from $69.00 to $74.00 in a report on Friday, May 23rd. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.25.

Southwest Gas Stock Performance

SWX stock traded up $0.40 during midday trading on Monday, reaching $78.83. The company had a trading volume of 52,849 shares, compared to its average volume of 431,905. The stock has a 50 day moving average price of $75.47 and a 200 day moving average price of $74.07. The firm has a market capitalization of $5.67 billion, a PE ratio of 29.41, a P/E/G ratio of 2.00 and a beta of 0.49. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Southwest Gas Corporation has a fifty-two week low of $64.69 and a fifty-two week high of $80.29.

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