Southwest Gas (NYSE:SWX) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Jefferies Financial Group has raised its price target for Southwest Gas from $82.00 to $88.00, reflecting a potential upside of 14.21% based on current market prices.
• Bank of America upgraded Southwest Gas from a "neutral" rating to a "buy" rating, increasing its price target from $76.00 to $84.00, contributing to the stock's overall positive outlook.
• Southwest Gas reported an EPS of $0.53 for the last quarter, surpassing analyst expectations, although its revenue fell 5.2% compared to the same period last year.

Southwest Gas (NYSE:SWX - Get Free Report) had its target price hoisted by research analysts at Jefferies Financial Group from $82.00 to $88.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the utilities provider's stock. Jefferies Financial Group's price target would indicate a potential upside of 12.02% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. 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. Finally, Bank of America upgraded shares of Southwest Gas from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $76.00 to $84.00 in a report on Friday, August 29th. One 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. According to MarketBeat, Southwest Gas has an average rating of "Moderate Buy" and a consensus target price of $81.25.

Southwest Gas Price Performance

NYSE SWX traded down $0.54 on Wednesday, reaching $78.56. 369,479 shares of the company's stock traded hands, compared to its average volume of 353,490. The stock has a market cap of $5.65 billion, a PE ratio of 29.31, a P/E/G ratio of 2.05 and a beta of 0.55. Southwest Gas has a 12 month low of $64.69 and a 12 month high of $80.54. The stock has a 50-day simple moving average of $77.99 and a 200 day simple moving average of $74.46. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.94.

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. 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 the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The company's quarterly revenue was down 5.2% on a year-over-year basis. As a group, research analysts predict that Southwest Gas will post 3.03 earnings per share for the current year.

Hedge Funds Weigh In On Southwest Gas

A number of hedge funds have recently bought and sold shares of SWX. CANADA LIFE ASSURANCE Co lifted its holdings in Southwest Gas by 6.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 84,737 shares of the utilities provider's stock valued at $6,311,000 after acquiring an additional 5,207 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Southwest Gas by 230.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,193 shares of the utilities provider's stock valued at $684,000 after purchasing an additional 6,414 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Southwest Gas by 105.9% in the 2nd quarter. Corient Private Wealth LLC now owns 7,682 shares of the utilities provider's stock worth $571,000 after purchasing an additional 3,951 shares during the period. State of Tennessee Department of Treasury boosted its holdings in shares of Southwest Gas by 19.2% in the second quarter. State of Tennessee Department of Treasury now owns 30,815 shares of the utilities provider's stock worth $2,292,000 after buying an additional 4,972 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in Southwest Gas by 42.0% during the second quarter. Captrust Financial Advisors now owns 4,509 shares of the utilities provider's stock valued at $335,000 after buying an additional 1,334 shares during the period. Hedge funds and other institutional investors own 92.77% of the company's stock.

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.