Walleye Capital LLC Boosts Stock Position in Southwest Gas Corporation $SWX

Key Points

• Walleye Capital LLC has increased its holdings in Southwest Gas Corporation by 37.6%, now owning 46,438 shares valued at approximately $3.33 million.
• Multiple hedge funds significantly raised their stakes in Southwest Gas, with increases as high as 1,055% from Farther Finance Advisors LLC.
• Recent analysts' ratings show a positive outlook for Southwest Gas, with an average rating of "Moderate Buy" and a consensus price target of $77.25.

Walleye Capital LLC raised its holdings in Southwest Gas Corporation (NYSE:SWX - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,438 shares of the utilities provider's stock after buying an additional 12,680 shares during the quarter. Walleye Capital LLC owned 0.06% of Southwest Gas worth $3,334,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Southwest Gas by 1,055.0% in the first 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 lifted its stake in 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 buying an additional 301 shares during the period. Golden State Wealth Management LLC lifted its stake in 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 buying an additional 551 shares during the period. UMB Bank n.a. lifted its stake in Southwest Gas by 41.2% in the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock valued at $60,000 after buying an additional 243 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Southwest Gas by 78.8% during the first quarter. GAMMA Investing LLC now owns 869 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 383 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on SWX. Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Jefferies Financial Group upgraded Southwest Gas from a "hold" rating to a "buy" rating and boosted their price objective for the company from $74.00 to $82.00 in a report on Tuesday, July 8th. Bank of America upgraded Southwest Gas from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $76.00 to $84.00 in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.75.

Southwest Gas Stock Up 2.5%

Southwest Gas stock traded up $1.97 during trading on Friday, hitting $79.81. 458,956 shares of the company were exchanged, compared to its average volume of 376,027. The business's 50 day moving average is $77.14 and its 200 day moving average is $74.35. Southwest Gas Corporation has a 52 week low of $64.69 and a 52 week high of $80.54. The company has a market capitalization of $5.74 billion, a P/E ratio of 29.78, a PEG ratio of 2.04 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.07.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly 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 business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. Southwest Gas's revenue was down 5.2% compared to the same quarter last year. Analysts predict that Southwest Gas Corporation will post 3.03 earnings per share for the current year.

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.