Southwest Gas Corporation (NYSE:SWX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Southwest Gas Corporation (NYSE:SWX) has received a consensus recommendation of "Moderate Buy" from five covering brokerages, with an average twelve-month price target of $77.25.
• Several analysts have recently upgraded their ratings on the stock, with Jefferies Financial Group setting a new price target of $82.00 after moving from a hold to a buy rating.
• In its latest quarterly earnings report, Southwest Gas posted earnings per share of $0.53, surpassing analysts' estimates, although revenue of $1.12 billion fell short of the expected $1.17 billion.

Southwest Gas Corporation (NYSE:SWX - Get Free Report) has received an average rating of "Moderate Buy" from the five brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $77.25.

Several equities research analysts recently commented on SWX shares. JPMorgan Chase & Co. decreased their target price 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. Wall Street Zen upgraded Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $69.00 to $74.00 in a report on Friday, May 23rd. Finally, Jefferies Financial Group upgraded Southwest Gas from a "hold" rating to a "buy" rating and increased their price target for the stock from $74.00 to $82.00 in a report on Tuesday, July 8th.

Southwest Gas Trading Up 1.0%

Shares of SWX stock opened at $79.78 on Wednesday. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.02 and a beta of 0.49. The stock has a 50-day moving average of $75.73 and a 200-day moving average of $74.14. 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 has a 1-year low of $64.69 and a 1-year high of $80.29.

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

Hedge Funds Weigh In On Southwest Gas

A number of large investors have recently made changes to their positions in SWX. Private Trust Co. NA bought a new position in shares of Southwest Gas in the second quarter worth $25,000. Farther Finance Advisors LLC boosted its holdings in shares of Southwest Gas by 1,055.0% in the first quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock worth $33,000 after acquiring an additional 422 shares during the period. Simplex Trading LLC bought a new stake in Southwest Gas during the second quarter valued at $36,000. Headlands Technologies LLC boosted its stake in Southwest Gas by 144.0% during the first quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock valued at $37,000 after buying an additional 301 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in Southwest Gas by 1,001.8% during the first quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock valued at $44,000 after buying an additional 551 shares during the period. 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.

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