Citigroup Inc. decreased its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 86.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,330 shares of the utilities provider's stock after selling 20,556 shares during the quarter. Citigroup Inc.'s holdings in Southwest Gas were worth $201,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of SWX. Fifth Third Bancorp grew its holdings in shares of Southwest Gas by 56.1% during the third quarter. Fifth Third Bancorp now owns 484 shares of the utilities provider's stock worth $29,000 after purchasing an additional 174 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Southwest Gas in the third quarter valued at about $34,000. IFP Advisors Inc grew its stake in shares of Southwest Gas by 37.4% in the 2nd quarter. IFP Advisors Inc now owns 713 shares of the utilities provider's stock valued at $45,000 after purchasing an additional 194 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Southwest Gas by 256.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 876 shares of the utilities provider's stock worth $54,000 after purchasing an additional 630 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Southwest Gas by 207.3% in the 1st quarter. NewEdge Advisors LLC now owns 1,008 shares of the utilities provider's stock valued at $63,000 after buying an additional 680 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.
Southwest Gas Price Performance
SWX stock traded up $1.18 during trading on Friday, reaching $76.13. 517,021 shares of the company were exchanged, compared to its average volume of 502,217. The stock's 50 day moving average price is $65.52 and its 200 day moving average price is $62.49. Southwest Gas Holdings, Inc. has a 52-week low of $53.79 and a 52-week high of $76.25. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $5.45 billion, a P/E ratio of 35.91, a PEG ratio of 4.70 and a beta of 0.35.
Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.16. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. Southwest Gas had a return on equity of 7.28% and a net margin of 2.78%. As a group, analysts predict that Southwest Gas Holdings, Inc. will post 3.19 earnings per share for the current fiscal year.
Southwest Gas Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.26%. Southwest Gas's dividend payout ratio is currently 116.98%.
Analyst Ratings Changes
SWX has been the subject of a number of recent analyst reports. Citigroup raised their price objective on shares of Southwest Gas from $64.00 to $73.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. StockNews.com upgraded Southwest Gas from a "sell" rating to a "hold" rating in a research report on Wednesday, December 27th.
Read Our Latest Stock Report on Southwest Gas
About Southwest Gas
(
Free Report)
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.
See Also
Before you consider Southwest Gas, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southwest Gas wasn't on the list.
While Southwest Gas currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
