JPMorgan Chase & Co. Issues Pessimistic Forecast for Southwest Gas (NYSE:SWX) Stock Price

Southwest Gas (NYSE:SWX - Get Free Report) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $79.00 to $75.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the utilities provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 6.10% from the company's previous close.

A number of other research firms have also recently weighed in on SWX. Wall Street Zen cut shares of Southwest Gas from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Bank of America upgraded shares of Southwest Gas from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $69.00 to $74.00 in a research note on Friday, May 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Southwest Gas currently has a consensus rating of "Hold" and an average target price of $75.00.

Southwest Gas Price Performance

NYSE SWX traded down $1.71 during trading hours on Wednesday, reaching $70.69. The company's stock had a trading volume of 109,819 shares, compared to its average volume of 361,104. Southwest Gas has a fifty-two week low of $64.31 and a fifty-two week high of $80.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The company's 50-day moving average is $71.75 and its two-hundred day moving average is $73.41. The stock has a market cap of $5.08 billion, a PE ratio of 28.63, a PEG ratio of 3.16 and a beta of 0.48.

Southwest Gas (NYSE:SWX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, topping the consensus estimate of $1.61 by $0.04. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.50 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. Southwest Gas's revenue for the quarter was down 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. Analysts forecast that Southwest Gas will post 3.03 EPS for the current year.

Insider Buying and Selling at Southwest Gas

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.60, for a total value of $156,660,000.00. Following the completion of the sale, the insider now owns 7,532,604 shares in the company, valued at $561,932,258.40. This represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SWX. Arizona State Retirement System grew its stake in Southwest Gas by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,650 shares of the utilities provider's stock valued at $1,177,000 after buying an additional 140 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Southwest Gas by 1.7% in the fourth quarter. Pacer Advisors Inc. now owns 8,979 shares of the utilities provider's stock valued at $635,000 after acquiring an additional 147 shares in the last quarter. Blue Trust Inc. lifted its position in Southwest Gas by 18.8% during the fourth quarter. Blue Trust Inc. now owns 937 shares of the utilities provider's stock valued at $69,000 after buying an additional 148 shares during the period. D.A. Davidson & CO. grew its stake in shares of Southwest Gas by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 15,766 shares of the utilities provider's stock worth $1,115,000 after acquiring an additional 175 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its stake in shares of Southwest Gas by 5.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 3,427 shares of the utilities provider's stock worth $242,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 92.77% of the company's stock.

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.

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