Voleon Capital Management LP Invests $332,000 in Southwest Gas Corporation $SWX

Key Points

• Voleon Capital Management LP has acquired a new stake in Southwest Gas Corporation, purchasing 4,618 shares valued at approximately $332,000 during the first quarter.
• Several institutional investors have significantly increased their stakes in Southwest Gas, with Zimmer Partners LP expanding its shareholding by 884.4%, owning 910,615 shares valued at $64.39 million.
• Stock analysts have recently upgraded Southwest Gas's ratings, with Bank of America raising its target price from $76.00 to $84.00 while maintaining a "buy" rating.

Voleon Capital Management LP acquired a new position in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,618 shares of the utilities provider's stock, valued at approximately $332,000.

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

Southwest Gas Stock Performance

NYSE SWX traded down $0.54 during trading on Friday, reaching $78.56. The company's stock had a trading volume of 369,479 shares, compared to its average volume of 353,490. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.07. The firm 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 Corporation has a 12 month low of $64.69 and a 12 month high of $80.54. The firm has a 50 day moving average price of $77.99 and a 200 day moving average price of $74.46.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.17 billion. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. The business's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, equities analysts anticipate that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Bank of America raised shares of Southwest Gas from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $76.00 to $84.00 in a report on Friday, August 29th. Wall Street Zen raised shares of Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Finally, Jefferies Financial Group lifted their target price on shares of Southwest Gas from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.25.

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.