Peregrine Capital Management LLC decreased its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,280 shares of the utilities provider's stock after selling 2,485 shares during the quarter. Peregrine Capital Management LLC owned about 0.26% of Southwest Gas worth $15,002,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its stake in Southwest Gas by 0.6% during the 1st quarter. Raymond James & Associates now owns 22,510 shares of the utilities provider's stock worth $1,762,000 after buying an additional 145 shares during the period. Connable Office Inc. increased its stake in Southwest Gas by 5.5% during the 1st quarter. Connable Office Inc. now owns 3,243 shares of the utilities provider's stock worth $254,000 after buying an additional 168 shares during the period. Mackenzie Financial Corp increased its stake in Southwest Gas by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,425 shares of the utilities provider's stock worth $268,000 after buying an additional 232 shares during the period. State of Alaska Department of Revenue increased its stake in Southwest Gas by 2.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,597 shares of the utilities provider's stock worth $835,000 after buying an additional 250 shares during the period. Finally, TCI Wealth Advisors Inc. increased its stake in Southwest Gas by 95.9% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 521 shares of the utilities provider's stock worth $45,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 89.25% of the company's stock.
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Southwest Gas Stock Down 3.8 %
Shares of SWX traded down $2.82 during midday trading on Thursday, hitting $71.43. The company had a trading volume of 15,573 shares, compared to its average volume of 602,022. The company's 50 day moving average price is $80.29 and its 200 day moving average price is $84.16. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 3.57 and a beta of 0.16. Southwest Gas Holdings, Inc. has a 52 week low of $62.58 and a 52 week high of $95.62. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.33.
Southwest Gas (NYSE:SWX – Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The utilities provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.30). Southwest Gas had a net
margin of 3.37% and a return on equity of 6.96%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $0.43 earnings per share. On average, equities research analysts predict that Southwest Gas Holdings, Inc. will post 4.13 EPS for the current year.
Southwest Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Monday, November 14th. Southwest Gas's dividend payout ratio (DPR) is presently 101.64%.
Analyst Ratings Changes
Several research firms recently issued reports on SWX. Argus raised shares of Southwest Gas from a "hold" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Thursday, June 9th. Wells Fargo & Company dropped their target price on shares of Southwest Gas from $101.00 to $86.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 10th. Finally, StockNews.com downgraded shares of Southwest Gas from a "hold" rating to a "sell" rating in a research report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $91.33.
About Southwest Gas
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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.
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