Southwest Gas (NYSE:SWX) Rating Lowered to Hold at StockNews.com

Southwest Gas (NYSE:SWX - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Tuesday.

A number of other equities analysts have also weighed in on SWX. Jefferies Financial Group started coverage on Southwest Gas in a research report on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price target for the company. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Southwest Gas from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Southwest Gas currently has a consensus rating of "Hold" and a consensus price target of $74.00.

Southwest Gas Price Performance

Shares of NYSE SWX traded down $0.21 during midday trading on Tuesday, reaching $68.98. The company's stock had a trading volume of 419,282 shares, compared to its average volume of 356,522. Southwest Gas has a one year low of $64.31 and a one year high of $80.29. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. The company has a 50 day moving average price of $72.42 and a 200 day moving average price of $73.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21.

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

Insiders Place Their Bets

In other Southwest Gas news, major shareholder Carl C. Icahn sold 2,100,000 shares of Southwest Gas stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.60, for a total transaction of $156,660,000.00. Following the completion of the sale, the insider now owns 7,532,604 shares of the company's stock, valued at $561,932,258.40. This trade represents a 21.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.51% of the company's stock.

Institutional Trading of Southwest Gas

Several hedge funds and other institutional investors have recently modified their holdings of SWX. Barclays PLC increased its position in Southwest Gas by 192.7% in the 3rd quarter. Barclays PLC now owns 105,134 shares of the utilities provider's stock worth $7,755,000 after purchasing an additional 69,212 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Southwest Gas by 88.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,679 shares of the utilities provider's stock valued at $1,539,000 after buying an additional 9,705 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in Southwest Gas by 31.1% in the fourth quarter. Hennessy Advisors Inc. now owns 110,817 shares of the utilities provider's stock worth $7,836,000 after buying an additional 26,300 shares during the last quarter. O Keefe Stevens Advisory Inc. raised its position in Southwest Gas by 45.0% during the fourth quarter. O Keefe Stevens Advisory Inc. now owns 11,775 shares of the utilities provider's stock valued at $833,000 after acquiring an additional 3,654 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Southwest Gas by 48.2% in the fourth quarter. UMB Bank n.a. now owns 590 shares of the utilities provider's stock worth $42,000 after acquiring an additional 192 shares in the last quarter. 92.77% of the stock is currently owned by hedge funds and other 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.