Analysts Set Southwest Gas Holdings, Inc. (NYSE:SWX) Target Price at $75.00

Shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Get Free Report) have been given an average rating of "Hold" by the five ratings firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $75.00.

SWX has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday. Bank of America raised Southwest Gas from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $69.00 to $74.00 in a report on Friday, May 23rd. Wall Street Zen cut Southwest Gas from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th.

Southwest Gas Price Performance

Shares of SWX traded down $0.01 during trading hours on Friday, reaching $71.89. 433,955 shares of the company's stock traded hands, compared to its average volume of 362,373. The stock has a market cap of $5.17 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The firm's 50 day simple moving average is $71.58 and its 200-day simple moving average is $73.32. Southwest Gas has a 12 month low of $64.31 and a 12 month high of $80.29.

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

Southwest Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a $0.62 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.45%. Southwest Gas's dividend payout ratio (DPR) is currently 79.74%.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn sold 2,100,000 shares of Southwest Gas stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $74.60, for a total value of $156,660,000.00. Following the sale, the insider now directly owns 7,532,604 shares in the company, valued at approximately $561,932,258.40. This trade represents a 21.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company's stock.

Institutional Investors Weigh In On Southwest Gas

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in shares of Southwest Gas by 1,055.0% in the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock worth $33,000 after buying an additional 422 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Southwest Gas by 144.0% in the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock worth $37,000 after buying an additional 301 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Southwest Gas by 1,001.8% in the 1st quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock worth $44,000 after buying an additional 551 shares during the last quarter. Quarry LP grew its position in shares of Southwest Gas by 118.3% in the 1st quarter. Quarry LP now owns 751 shares of the utilities provider's stock worth $54,000 after buying an additional 407 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Southwest Gas by 41.2% in the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock worth $60,000 after buying an additional 243 shares during the last quarter. 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.