Southwest Gas (NYSE:SWX) Upgraded by LADENBURG THALM/SH SH to "Strong-Buy" Rating

Southwest Gas (NYSE:SWX - Get Free Report) was upgraded by equities researchers at LADENBURG THALM/SH SH to a "strong-buy" rating in a report issued on Tuesday, April 22nd,Zacks.com reports.

A number of other research firms have also recently commented on SWX. Jefferies Financial Group began coverage on Southwest Gas in a report on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price target on the stock. JPMorgan Chase & Co. cut their target price on 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $74.00.

Southwest Gas Stock Performance

NYSE:SWX traded down $0.03 on Tuesday, hitting $72.72. The stock had a trading volume of 64,581 shares, compared to its average volume of 399,345. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 3.16 and a beta of 0.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The business's 50-day simple moving average is $73.07 and its two-hundred day simple moving average is $73.75. Southwest Gas has a 52-week low of $64.31 and a 52-week high of $80.29.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.35 billion. As a group, research analysts predict that Southwest Gas will post 3.03 earnings per share for the current year.

Insider Buying and Selling at Southwest Gas

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 shares were sold at an average price of $74.60, for a total value of $156,660,000.00. Following the transaction, the insider now owns 7,532,604 shares of the company's stock, valued at $561,932,258.40. The trade was a 21.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

Institutional Trading of Southwest Gas

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its stake in Southwest Gas by 1,055.0% during the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 422 shares during the period. UMB Bank n.a. lifted its stake in shares of Southwest Gas by 48.2% in the 4th quarter. UMB Bank n.a. now owns 590 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 192 shares during the period. Golden State Wealth Management LLC increased its holdings in 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 acquiring an additional 551 shares in the last quarter. ST Germain D J Co. Inc. increased its holdings in Southwest Gas by 206.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 845 shares of the utilities provider's stock worth $60,000 after acquiring an additional 569 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Southwest Gas by 78.8% in the 1st quarter. GAMMA Investing LLC now owns 869 shares of the utilities provider's stock worth $62,000 after acquiring an additional 383 shares in the last quarter. 92.77% of the stock is currently owned by institutional investors and hedge funds.

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.