WBI Investments LLC Takes Position in Southwest Gas Corporation $SWX

Key Points

• WBI Investments LLC has acquired a new stake in Southwest Gas Corporation, purchasing 26,180 shares valued at approximately $1,880,000.
• Bank of America and Wall Street Zen have upgraded Southwest Gas to a buy rating, with price targets now set between $84.00 and $88.00.
• Southwest Gas reported EPS of $0.53 for the last quarter, exceeding the consensus estimate of $0.42, although revenue decreased by 5.2% year-over-year.

WBI Investments LLC acquired a new stake in shares of Southwest Gas Corporation (NYSE:SWX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,180 shares of the utilities provider's stock, valued at approximately $1,880,000.

Several other large investors also recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in Southwest Gas by 105.9% during the first quarter. Acadian Asset Management LLC now owns 22,748 shares of the utilities provider's stock valued at $1,631,000 after buying an additional 11,700 shares during the period. Intech Investment Management LLC boosted its stake in Southwest Gas by 18.0% during the first quarter. Intech Investment Management LLC now owns 40,670 shares of the utilities provider's stock valued at $2,920,000 after buying an additional 6,210 shares during the period. Jane Street Group LLC boosted its stake in Southwest Gas by 217.3% during the first quarter. Jane Street Group LLC now owns 154,568 shares of the utilities provider's stock valued at $11,098,000 after buying an additional 105,852 shares during the period. Bayforest Capital Ltd boosted its stake in Southwest Gas by 191.1% during the first quarter. Bayforest Capital Ltd now owns 6,104 shares of the utilities provider's stock valued at $438,000 after buying an additional 4,007 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Southwest Gas by 14.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,852 shares of the utilities provider's stock valued at $13,703,000 after buying an additional 24,688 shares during the period. Institutional investors own 92.77% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SWX. Bank of America raised Southwest Gas from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $76.00 to $84.00 in a research note on Friday, August 29th. Wall Street Zen raised Southwest Gas from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Jefferies Financial Group lifted their price target on Southwest Gas from $82.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a research note 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 given a Hold rating to the company. According to data from MarketBeat.com, Southwest Gas has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Southwest Gas Stock Up 2.1%

SWX opened at $78.72 on Thursday. The company has a market cap of $5.67 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.99 and a beta of 0.55. The business's 50-day moving average price is $77.79 and its 200-day moving average price is $74.44. 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 Corporation has a 12 month low of $64.69 and a 12 month high of $80.54.

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

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.

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