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 stake in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,618 shares of the utilities provider's stock, valued at approximately $332,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd increased its stake in shares of Southwest Gas by 27.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 15,069 shares of the utilities provider's stock valued at $1,082,000 after buying an additional 3,290 shares in the last quarter. Petrus Trust Company LTA acquired a new stake in shares of Southwest Gas in the first quarter valued at $521,000. Millennium Management LLC increased its stake in shares of Southwest Gas by 74.7% in the first quarter. Millennium Management LLC now owns 209,934 shares of the utilities provider's stock valued at $15,073,000 after buying an additional 89,761 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Southwest Gas by 26.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,930 shares of the utilities provider's stock valued at $3,154,000 after buying an additional 9,250 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Southwest Gas by 208.2% in the first quarter. AQR Capital Management LLC now owns 227,415 shares of the utilities provider's stock worth $16,299,000 after purchasing an additional 153,637 shares during the period. 92.77% of the stock is owned by institutional investors.

Southwest Gas Price Performance

Shares of SWX traded up $0.51 during trading hours on Monday, hitting $79.05. 56,563 shares of the company were exchanged, compared to its average volume of 421,882. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.03 and a beta of 0.55. Southwest Gas Corporation has a fifty-two week low of $64.69 and a fifty-two 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's fifty day moving average is $77.99 and its 200 day moving average is $74.46.

Southwest Gas (NYSE:SWX - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.11. Southwest Gas had a return on equity of 6.98% and a net margin of 4.06%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $0.25 EPS. Southwest Gas's quarterly revenue was down 5.2% on a year-over-year basis. On average, equities analysts anticipate that Southwest Gas Corporation will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SWX has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Southwest Gas from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. reduced their target price on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Bank of America upgraded Southwest Gas from a "neutral" rating to a "buy" rating and raised their target price for the stock from $76.00 to $84.00 in a report on Friday, August 29th. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.