Southwest Gas (NYSE:SWX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Southwest Gas (NYSE:SWX - Free Report) from a hold rating to a buy rating in a report published on Saturday.

Other equities research analysts have also recently issued reports about the stock. Bank of America upgraded shares of Southwest Gas from an "underperform" rating to a "neutral" rating and upped their price target for the company from $69.00 to $74.00 in a report on Friday, May 23rd. LADENBURG THALM/SH SH raised Southwest Gas to a "strong-buy" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. decreased their target price on Southwest Gas from $79.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

Southwest Gas Stock Up 1.4%

Shares of NYSE SWX traded up $0.99 during mid-day trading on Friday, reaching $72.26. 455,991 shares of the company traded hands, compared to its average volume of 366,218. The company's fifty day moving average is $71.52 and its two-hundred day moving average is $73.04. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. Southwest Gas has a fifty-two week low of $64.31 and a fifty-two week high of $80.29. The stock has a market cap of $5.20 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, beating the consensus estimate of $1.61 by $0.04. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The company 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 company posted $1.37 earnings per share. The company's revenue for the quarter was down 18.0% compared to the same quarter last year. On average, analysts expect that Southwest Gas will post 3.03 earnings per share for the current year.

Southwest Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, August 15th. Southwest Gas's payout ratio is presently 79.74%.

Insider Activity at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 2,100,000 shares of Southwest Gas stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.60, for a total transaction of $156,660,000.00. Following the sale, the insider now owns 7,532,604 shares in the company, valued at $561,932,258.40. The trade was a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Southwest Gas

A number of hedge funds have recently made changes to their positions in SWX. Farther Finance Advisors LLC increased its stake in Southwest Gas by 1,055.0% in the first 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. Headlands Technologies LLC boosted its holdings in Southwest Gas by 144.0% during the first quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 301 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Southwest Gas by 1,001.8% during the first quarter. Golden State Wealth Management LLC now owns 606 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 551 shares in the last quarter. Quarry LP grew its stake in shares of Southwest Gas by 118.3% in the 1st quarter. Quarry LP now owns 751 shares of the utilities provider's stock valued at $54,000 after purchasing an additional 407 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Southwest Gas by 41.2% in the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider's stock worth $60,000 after buying an additional 243 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Southwest Gas Company Profile

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.