MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Holdings in Southwest Gas Corporation $SWX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Southwest Gas Corporation by 26.7% in the first quarter, now owning about $3.15 million worth of shares.
• Analysts have varying opinions on Southwest Gas stock, with a consensus target price of $81.25 and ratings ranging from Strong Buy to Hold.
• The company's recent performance includes a net margin of 4.06% and an EPS of $0.53, beating estimates but showing a 5.2% revenue decline year-over-year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Southwest Gas Corporation (NYSE:SWX - Free Report) by 26.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,930 shares of the utilities provider's stock after buying an additional 9,250 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Southwest Gas worth $3,154,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in Southwest Gas by 1,055.0% in the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock valued at $33,000 after buying an additional 422 shares during the period. Headlands Technologies LLC increased its stake in Southwest Gas by 144.0% in the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock valued at $37,000 after buying an additional 301 shares during the period. Golden State Wealth Management LLC increased its stake 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 valued at $44,000 after buying an additional 551 shares during the period. Quarry LP increased its stake in Southwest Gas by 118.3% in the 1st quarter. Quarry LP now owns 751 shares of the utilities provider's stock valued at $54,000 after buying an additional 407 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of 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 purchasing an additional 243 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SWX. Jefferies Financial Group upped their price target on shares of Southwest Gas from $82.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Bank of America raised shares of Southwest Gas from a "neutral" rating to a "buy" rating and upped their price target for the stock from $76.00 to $84.00 in a research note on Friday, August 29th. Wall Street Zen raised shares of Southwest Gas from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.25.

Southwest Gas Price Performance

Shares of Southwest Gas stock traded down $0.09 on Thursday, hitting $79.02. The company's stock had a trading volume of 362,999 shares, compared to its average volume of 350,975. Southwest Gas Corporation has a 52-week low of $64.69 and a 52-week high of $80.54. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average price of $78.30 and a 200-day moving average price of $74.57. The company has a market capitalization of $5.69 billion, a P/E ratio of 29.48, 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 data on Wednesday, August 6th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business's revenue for the quarter was down 5.2% 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, November 17th. Southwest Gas's dividend payout ratio is 92.54%.

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.