AQR Capital Management LLC Has $16.30 Million Stock Holdings in Southwest Gas Corporation $SWX

Key Points

• AQR Capital Management LLC increased its stake in Southwest Gas Corporation ($SWX) by 208.2% in the first quarter, owning approximately 0.32% of the company after acquiring an additional 153,637 shares.
• Southwest Gas reported an earnings per share (EPS) of $0.53 for the last quarter, surpassing analyst expectations, despite a 5.2% decline in revenue year-over-year.
• Bank of America upgraded its rating for Southwest Gas from "neutral" to "buy" and set a new target price of $84.00, reflecting positive sentiment among analysts for the stock.

AQR Capital Management LLC boosted its holdings in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) by 208.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,415 shares of the utilities provider's stock after buying an additional 153,637 shares during the period. AQR Capital Management LLC owned about 0.32% of Southwest Gas worth $16,299,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SWX. Adage Capital Partners GP L.L.C. raised its holdings in Southwest Gas by 72.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the utilities provider's stock worth $111,290,000 after purchasing an additional 650,000 shares during the last quarter. Maverick Capital Ltd. raised its holdings in Southwest Gas by 0.9% during the 1st quarter. Maverick Capital Ltd. now owns 1,826,557 shares of the utilities provider's stock worth $131,147,000 after purchasing an additional 16,894 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Southwest Gas during the 1st quarter worth about $1,995,000. Royal Bank of Canada raised its holdings in Southwest Gas by 3.6% during the 1st quarter. Royal Bank of Canada now owns 311,073 shares of the utilities provider's stock worth $22,335,000 after purchasing an additional 10,893 shares during the last quarter. Finally, Graham Capital Management L.P. raised its holdings in Southwest Gas by 123.6% during the 1st quarter. Graham Capital Management L.P. now owns 33,913 shares of the utilities provider's stock worth $2,435,000 after purchasing an additional 18,745 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Stock Down 0.7%

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

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share 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 during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. The business's revenue was down 5.2% on a year-over-year basis. On average, analysts forecast that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SWX shares. 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 for the company in a research note on Wednesday, May 28th. Jefferies Financial Group upped their price target on Southwest Gas from $82.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Bank of America raised Southwest Gas from a "neutral" rating to a "buy" rating and upped their price target for the company from $76.00 to $84.00 in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.25.

Southwest Gas 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.