Millennium Management LLC Boosts Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Millennium Management LLC raised its holdings in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 29.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,173 shares of the utilities provider's stock after buying an additional 27,206 shares during the period. Millennium Management LLC owned about 0.17% of Southwest Gas worth $8,497,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SWX. Vanguard Group Inc. grew its position in shares of Southwest Gas by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,696,651 shares of the utilities provider's stock valued at $473,520,000 after purchasing an additional 38,710 shares during the last quarter. FMR LLC grew its holdings in Southwest Gas by 3.3% in the 4th quarter. FMR LLC now owns 3,322,085 shares of the utilities provider's stock valued at $234,905,000 after buying an additional 105,549 shares in the last quarter. Channing Capital Management LLC increased its position in Southwest Gas by 0.3% during the 4th quarter. Channing Capital Management LLC now owns 1,270,072 shares of the utilities provider's stock worth $89,807,000 after buying an additional 4,235 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Southwest Gas by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,030,283 shares of the utilities provider's stock worth $72,850,000 after buying an additional 27,407 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Southwest Gas by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,723 shares of the utilities provider's stock valued at $70,054,000 after acquiring an additional 12,913 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $74.60, for a total value of $156,660,000.00. Following the transaction, the insider now owns 7,532,604 shares in the company, valued at approximately $561,932,258.40. The trade was a 21.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SWX. Wall Street Zen cut shares of Southwest Gas from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their target price on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday. Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $69.00 to $74.00 in a research report on Friday, May 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $75.00.

Southwest Gas Price Performance

Shares of SWX stock traded down $0.41 on Friday, hitting $71.49. 31,577 shares of the company's stock were exchanged, compared to its average volume of 361,272. The company has a 50 day moving average of $71.60 and a 200 day moving average of $73.36. The stock has a market cap of $5.14 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. Southwest Gas Holdings, Inc. has a 12 month low of $64.31 and a 12 month high of $80.29.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its earnings results on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, topping the consensus estimate of $1.61 by $0.04. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business's quarterly revenue was down 18.0% on a year-over-year basis. On average, equities research analysts predict that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Announces Dividend

The business also recently declared 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 is Friday, August 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.47%. Southwest Gas's dividend payout ratio (DPR) is presently 79.74%.

About Southwest Gas

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.