Southwest Gas Corporation (NYSE:SWX) Given Average Rating of "Hold" by Brokerages

Shares of Southwest Gas Corporation (NYSE:SWX - Get Free Report) have earned a consensus rating of "Hold" from the five brokerages that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $75.00.

Several research firms have recently weighed in on SWX. Bank of America raised Southwest Gas from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $69.00 to $74.00 in a research report on Friday, May 23rd. Wall Street Zen cut shares of Southwest Gas from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. JPMorgan Chase & Co. reduced their price target on shares of Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th.

Southwest Gas Stock Performance

SWX stock traded down $0.06 during mid-day trading on Tuesday, reaching $74.34. 1,236,629 shares of the stock traded hands, compared to its average volume of 379,723. The firm has a market capitalization of $5.35 billion, a PE ratio of 23.90, a P/E/G ratio of 2.01 and a beta of 0.47. The business has a 50-day moving average of $72.33 and a two-hundred day moving average of $72.74. Southwest Gas has a 52 week low of $64.31 and a 52 week high of $80.29. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The utilities provider reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.04. The business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.50 billion. Southwest Gas had a return on equity of 6.76% and a net margin of 4.66%. The firm's revenue was down 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. As a group, equities analysts predict that Southwest Gas will post 3.03 EPS for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.34%. Southwest Gas's payout ratio is 79.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SWX. Farther Finance Advisors LLC increased 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 acquiring an additional 422 shares during the period. Headlands Technologies LLC boosted its stake in Southwest Gas by 144.0% in the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock valued at $37,000 after buying an additional 301 shares in the last quarter. Golden State Wealth Management LLC grew its position 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 acquiring an additional 551 shares during the period. Quarry LP grew its position in Southwest Gas by 118.3% in the first quarter. Quarry LP now owns 751 shares of the utilities provider's stock valued at $54,000 after acquiring an additional 407 shares during the period. Finally, UMB Bank n.a. raised its stake in Southwest Gas by 41.2% during the first quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock worth $60,000 after acquiring an additional 243 shares in the last quarter. 92.77% of the stock is owned by institutional investors.

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.