Southwest Gas Corporation (NYSE:SWX) Plans $0.62 Quarterly Dividend

Key Points

• Southwest Gas Corporation has announced a quarterly dividend of $0.62 per share, which will be paid out on December 1st to investors of record as of November 17th, representing a yield of 3.1%.
• The company has a payout ratio of 60.3%, indicating that its dividend is well covered by earnings, and analysts project an earnings per share of $3.69 next year.
• Southwest Gas shares saw a 0.8% increase, trading at $79.06, with a market capitalization of $5.69 billion and a P/E ratio of 29.50.

Southwest Gas Corporation (NYSE:SWX - Get Free Report) announced a quarterly dividend on Wednesday, September 17th, RTT News reports. Shareholders of record on Monday, November 17th will be given a dividend of 0.62 per share by the utilities provider on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, November 17th.

Southwest Gas has a payout ratio of 60.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Southwest Gas to earn $3.69 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 67.2%.

Southwest Gas Stock Down 0.7%

NYSE:SWX traded down $0.54 during trading hours on Friday, reaching $78.46. The company had a trading volume of 1,148,070 shares, compared to its average volume of 355,365. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 2.03 and a beta of 0.55. The business's 50-day simple moving average is $78.33 and its two-hundred day simple moving average is $74.60. Southwest Gas has a twelve month low of $64.69 and a twelve month high of $80.54.

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

Hedge Funds Weigh In On Southwest Gas

Large investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its holdings in Southwest Gas by 6.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 84,737 shares of the utilities provider's stock worth $6,311,000 after buying an additional 5,207 shares during the period. Tower Research Capital LLC TRC increased its holdings in Southwest Gas by 230.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,193 shares of the utilities provider's stock worth $684,000 after buying an additional 6,414 shares during the period. Corient Private Wealth LLC increased its holdings in 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 buying an additional 3,951 shares during the period. State of Tennessee Department of Treasury increased its holdings in Southwest Gas by 19.2% in the 2nd 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 period. Finally, Captrust Financial Advisors increased its holdings in Southwest Gas by 42.0% in the 2nd quarter. Captrust Financial Advisors now owns 4,509 shares of the utilities provider's stock worth $335,000 after buying an additional 1,334 shares during the period. 92.77% of the stock is currently owned by institutional investors.

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.