Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) announced a quarterly dividend on Wednesday, September 21st, Zacks reports. Stockholders of record on Tuesday, November 15th will be given a dividend of 0.62 per share by the utilities provider on Thursday, December 1st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, November 14th.
Southwest Gas has raised its dividend payment by an average of 4.6% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Southwest Gas has a dividend payout ratio of 50.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Southwest Gas to earn $4.83 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 51.3%.
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Southwest Gas Stock Down 1.2 %
Shares of NYSE SWX traded down $0.92 during mid-day trading on Friday, reaching $77.82. The company had a trading volume of 1,306 shares, compared to its average volume of 572,470. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 3.80 and a beta of 0.16. The stock has a fifty day moving average of $81.08 and a two-hundred day moving average of $84.08. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.70 and a current ratio of 0.70. Southwest Gas has a 12-month low of $62.58 and a 12-month high of $95.62.
Southwest Gas (NYSE:SWX – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The utilities provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.30). The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.01 billion. Southwest Gas had a net
margin of 3.37% and a return on equity of 6.96%. During the same period in the previous year, the business posted $0.43 EPS. As a group, equities research analysts expect that Southwest Gas will post 4.14 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Wells Fargo & Company lowered their price target on Southwest Gas from $101.00 to $86.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 10th. StockNews.com downgraded Southwest Gas from a "hold" rating to a "sell" rating in a report on Tuesday. Finally, Argus upgraded Southwest Gas from a "hold" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Thursday, June 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Southwest Gas currently has a consensus rating of "Hold" and a consensus price target of $91.33.
Institutional Investors Weigh In On Southwest Gas
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP boosted its stake in Southwest Gas by 250.8% during the first quarter. Quantbot Technologies LP now owns 10,257 shares of the utilities provider's stock worth $803,000 after buying an additional 7,333 shares in the last quarter. Ethic Inc. boosted its stake in Southwest Gas by 64.2% during the first quarter. Ethic Inc. now owns 9,350 shares of the utilities provider's stock worth $732,000 after buying an additional 3,656 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Southwest Gas by 7.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,088 shares of the utilities provider's stock worth $477,000 after buying an additional 432 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in Southwest Gas during the first quarter worth $391,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in Southwest Gas during the first quarter worth $298,000. Institutional investors and hedge funds own 89.25% of the company's stock.
Southwest Gas Company Profile
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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.
Further Reading
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