Southwest Gas (NYSE:SWX) Posts Earnings Results, Beats Expectations By $0.04 EPS

Southwest Gas (NYSE:SWX - Get Free Report) announced its earnings results on Monday. The utilities provider reported $1.65 EPS for the quarter, topping the consensus estimate of $1.61 by $0.04, Zacks reports. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $1.37 EPS. The business's quarterly revenue was down 18.0% on a year-over-year basis.

Southwest Gas Stock Up 1.5%

Shares of NYSE:SWX traded up $1.00 during trading on Thursday, hitting $69.08. 412,813 shares of the company's stock traded hands, compared to its average volume of 356,271. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. Southwest Gas has a 52 week low of $64.31 and a 52 week high of $80.29. 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 company has a 50-day moving average price of $72.50 and a 200-day moving average price of $73.61.

Southwest Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, August 15th. Southwest Gas's payout ratio is presently 79.74%.

Wall Street Analysts Forecast Growth

SWX has been the topic of several research reports. StockNews.com lowered Southwest Gas from a "buy" rating to a "hold" rating in a research note on Tuesday. LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced 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 assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $74.00.

Insider Activity at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 2,100,000 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.60, for a total value of $156,660,000.00. Following the completion of the transaction, the insider now owns 7,532,604 shares of the company's stock, valued at approximately $561,932,258.40. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is currently owned by insiders.

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.