Southwest Gas (NYSE:SWX) Reaches New 1-Year Low - What's Next?

Southwest Gas Holdings, Inc. (NYSE:SWX - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $70.63 and last traded at $72.17, with a volume of 417407 shares traded. The stock had previously closed at $72.87.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SWX shares. Jefferies Financial Group initiated coverage on Southwest Gas in a research note on Tuesday, January 14th. They set a "hold" rating and a $73.00 target price for the company. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a "strong-buy" rating in a research 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 report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Southwest Gas currently has an average rating of "Hold" and an average target price of $74.00.

Southwest Gas Stock Performance

The firm has a fifty day moving average price of $72.75 and a 200 day moving average price of $73.69. The firm has a market capitalization of $5.32 billion, a PE ratio of 29.85, a P/E/G ratio of 3.16 and a beta of 0.48. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85.

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

Southwest Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 3.35%. The ex-dividend date is Friday, August 15th. Southwest Gas's dividend payout ratio (DPR) is currently 90.18%.

Insider Transactions at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 2,100,000 shares of the 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 completion of the sale, the insider now owns 7,532,604 shares in the company, valued at $561,932,258.40. This represents a 21.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.

Institutional Trading of Southwest Gas

Several hedge funds and other institutional investors have recently modified their holdings of SWX. Zimmer Partners LP grew its stake in shares of Southwest Gas by 884.4% in the 4th quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider's stock valued at $64,390,000 after buying an additional 818,115 shares in the last quarter. Norges Bank bought a new stake in Southwest Gas in the fourth quarter worth approximately $51,011,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Southwest Gas by 111.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the utilities provider's stock worth $63,639,000 after purchasing an additional 475,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Southwest Gas by 83.3% during the 4th quarter. JPMorgan Chase & Co. now owns 505,555 shares of the utilities provider's stock valued at $35,748,000 after purchasing an additional 229,739 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in shares of Southwest Gas by 328.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 223,746 shares of the utilities provider's stock valued at $15,821,000 after purchasing an additional 171,478 shares in the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

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.