Southwest Gas (NYSE:SWX) Price Target Raised to $107.00

Key Points

• Wells Fargo raised Southwest Gas’s price target to $107 from $105 and maintained an “overweight” rating, implying 16.55% upside from the prior close.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average price target of $98.29; the stock closed at $91.81 after falling 0.6%.
• Southwest Gas reported quarterly EPS of $0.45, in line with estimates, but revenue of $358.15 million fell short of expectations and declined 9.6% year over year. Institutional investors own 92.77% of the company.

Southwest Gas (NYSE:SWX - Get Free Report) had its price objective raised by equities researchers at Wells Fargo & Company from $105.00 to $107.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's target price indicates a potential upside of 16.55% from the stock's previous close.

Several other equities analysts have also commented on the company. Mizuho set a $103.00 price target on Southwest Gas in a research note on Wednesday. Weiss Ratings restated a "buy (a-)" rating on shares of Southwest Gas in a report on Monday. Wall Street Zen raised shares of Southwest Gas from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. raised shares of Southwest Gas from a "neutral" rating to an "overweight" rating and set a $100.00 target price for the company in a research note on Thursday, May 7th. Finally, UBS Group set a $100.00 price target on shares of Southwest Gas in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $98.29.

Southwest Gas Trading Down 0.6%

Shares of SWX stock traded down $0.59 during trading on Friday, hitting $91.81. 46,730 shares of the stock traded hands, compared to its average volume of 578,460. The firm has a market capitalization of $6.65 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.57. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.45 and a quick ratio of 1.32. The firm's fifty day moving average price is $89.78 and its 200-day moving average price is $88.48. Southwest Gas has a 52-week low of $75.75 and a 52-week high of $94.46.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.45 EPS for the quarter, meeting analysts' consensus estimates of $0.45. The firm had revenue of $358.15 million for the quarter, compared to analysts' expectations of $416.20 million. Southwest Gas had a return on equity of 6.85% and a net margin of 31.85%.The firm's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) earnings per share. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. As a group, research analysts forecast that Southwest Gas will post 4.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Southwest Gas

Institutional investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Southwest Gas by 1.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,837 shares of the utilities provider's stock valued at $867,000 after buying an additional 132 shares during the period. Illinois Municipal Retirement Fund grew its stake in Southwest Gas by 1.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 10,431 shares of the utilities provider's stock worth $835,000 after acquiring an additional 135 shares during the period. GAMMA Investing LLC raised its holdings in Southwest Gas by 8.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,960 shares of the utilities provider's stock valued at $174,000 after acquiring an additional 153 shares during the last quarter. LPL Financial LLC raised its holdings in Southwest Gas by 1.1% in the 4th quarter. LPL Financial LLC now owns 14,500 shares of the utilities provider's stock valued at $1,160,000 after acquiring an additional 159 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Southwest Gas by 0.9% during the 4th quarter. Arizona State Retirement System now owns 17,184 shares of the utilities provider's stock worth $1,375,000 after purchasing an additional 161 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Company Profile

Southwest Gas Corporation NYSE: SWX is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company's core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation's larger natural gas utilities by customer count.

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