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Southwest Gas (NYSE:SWX) Sets New 52-Week High - Time to Buy?

Southwest Gas logo with Utilities background

Key Points

  • Southwest Gas shares have reached a new 52-week high, trading at $80.32, with analysts indicating a consensus rating of "Moderate Buy" based on a recent uptick in positive ratings.
  • The company's earnings report revealed a net income of $0.53 per share, exceeding expectations, although revenue fell 5.2% year-over-year.
  • Hedge funds and institutional investors hold about 92.77% of Southwest Gas stock, with several funds significantly increasing their stakes recently.
  • Need better tools to track Southwest Gas? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Southwest Gas Corporation (NYSE:SWX - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $80.32 and last traded at $80.32, with a volume of 23903 shares. The stock had previously closed at $79.72.

Analyst Ratings Changes

Several analysts recently weighed in on SWX shares. Wall Street Zen raised shares of Southwest Gas from a "hold" rating to a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. cut their price objective on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Jefferies Financial Group upgraded Southwest Gas from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $74.00 to $82.00 in a research report on Tuesday, July 8th. LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a research note on Friday, May 9th. Finally, Bank of America upgraded Southwest Gas from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $69.00 to $74.00 in a research report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $77.25.

View Our Latest Research Report on Southwest Gas

Southwest Gas Trading Up 0.5%

The stock's fifty day simple moving average is $75.73 and its two-hundred day simple moving average is $74.14. The firm has a market cap of $5.77 billion, a PE ratio of 29.89, a PEG ratio of 2.02 and a beta of 0.49. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Southwest Gas (NYSE:SWX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.17 billion. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. Southwest Gas's quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Southwest Gas

Hedge funds have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. raised its stake in shares of Southwest Gas by 0.9% during the 1st quarter. Maverick Capital Ltd. now owns 1,826,557 shares of the utilities provider's stock worth $131,147,000 after buying an additional 16,894 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Southwest Gas by 72.2% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the utilities provider's stock valued at $111,290,000 after purchasing an additional 650,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Southwest Gas by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,544,405 shares of the utilities provider's stock valued at $114,902,000 after purchasing an additional 54,318 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Southwest Gas by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,030,283 shares of the utilities provider's stock valued at $72,850,000 after purchasing an additional 27,407 shares during the last quarter. Finally, Zimmer Partners LP raised its stake in Southwest Gas by 12.2% in the 1st quarter. Zimmer Partners LP now owns 1,021,956 shares of the utilities provider's stock valued at $73,376,000 after purchasing an additional 111,341 shares during the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Company Profile

(Get Free Report)

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.

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