Strs Ohio Makes New $1.16 Million Investment in Southwest Gas Corporation $SWX

Key Points

• Strs Ohio has acquired a new position in Southwest Gas Corporation, purchasing 16,200 shares valued at approximately $1,163,000.
• Southwest Gas reported $0.53 EPS for the quarter, surpassing estimates, but witnessed a 5.2% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.62 per share, reflecting an annualized yield of 3.1%, with a payout ratio of 92.54%.

Strs Ohio acquired a new stake in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,200 shares of the utilities provider's stock, valued at approximately $1,163,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SWX. Farther Finance Advisors LLC boosted its stake in Southwest Gas by 1,055.0% during the first quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock worth $33,000 after buying an additional 422 shares during the period. Headlands Technologies LLC raised its holdings in shares of Southwest Gas by 144.0% in the first quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 301 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 551 shares in the last quarter. Quarry LP raised its holdings in Southwest Gas by 118.3% in the first quarter. Quarry LP now owns 751 shares of the utilities provider's stock worth $54,000 after purchasing an additional 407 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Southwest Gas by 41.2% during the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 243 shares in the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Southwest Gas Stock Performance

Shares of NYSE SWX traded down $0.09 during midday trading on Thursday, reaching $79.02. 362,999 shares of the stock were exchanged, compared to its average volume of 350,975. Southwest Gas Corporation has a twelve month low of $64.69 and a twelve month high of $80.54. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.05 and a beta of 0.55. 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 50-day simple moving average of $78.30 and a two-hundred day simple moving average of $74.57.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm posted $0.25 EPS. The business's revenue was down 5.2% on a year-over-year basis. As a group, analysts anticipate that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, November 17th. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. Southwest Gas's dividend payout ratio (DPR) is presently 92.54%.

Analyst Ratings Changes

Several research firms have recently issued reports on SWX. Jefferies Financial Group upped their price objective on shares of Southwest Gas from $82.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. cut their price objective on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Bank of America upgraded shares of Southwest Gas from a "neutral" rating to a "buy" rating and increased their price target for the stock from $76.00 to $84.00 in a report on Friday, August 29th. Finally, Wall Street Zen upgraded shares of Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

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.