Ellevest Inc. raised its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) by 18.3% in the second quarter, Holdings Channel reports. The institutional investor owned 6,480 shares of the utilities provider's stock after buying an additional 1,001 shares during the quarter. Ellevest Inc.'s holdings in Southwest Gas were worth $564,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Kepos Capital LP bought a new stake in shares of Southwest Gas during the 4th quarter valued at about $72,000. Point72 Hong Kong Ltd bought a new stake in shares of Southwest Gas during the 4th quarter valued at about $94,000. FNY Investment Advisers LLC bought a new stake in shares of Southwest Gas during the 1st quarter valued at about $109,000. Parallel Advisors LLC boosted its position in shares of Southwest Gas by 28.0% during the 1st quarter. Parallel Advisors LLC now owns 1,515 shares of the utilities provider's stock valued at $120,000 after acquiring an additional 331 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Southwest Gas by 44.3% during the 1st quarter. Signaturefd LLC now owns 1,648 shares of the utilities provider's stock valued at $129,000 after acquiring an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company's stock.
Get Southwest Gas alerts:Southwest Gas Trading Down 1.7 %
SWX stock traded down $1.29 during midday trading on Monday, hitting $75.41. The company had a trading volume of 4,559 shares, compared to its average volume of 508,643. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.33. Southwest Gas Holdings, Inc. has a 52 week low of $62.58 and a 52 week high of $95.62. The stock's 50 day moving average price is $80.91 and its 200 day moving average price is $84.29. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 3.72 and a beta of 0.16.
Southwest Gas (NYSE:SWX – Get Rating) last announced 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). Southwest Gas had a net margin of 3.37% and a return on equity of 6.96%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, equities research analysts expect that Southwest Gas Holdings, Inc. will post 4.13 earnings per share for the current fiscal year.Southwest Gas Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.48 annualized dividend and a yield of 3.29%. Southwest Gas's payout ratio is currently 101.64%.
Analyst Ratings Changes
A number of analysts recently weighed in on the company. Argus upgraded Southwest Gas from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Thursday, June 9th. Wells Fargo & Company dropped their target price on 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 Southwest Gas from a "hold" rating to a "sell" rating in a research report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $91.33.
Southwest Gas 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
- Get a free copy of the StockNews.com research report on Southwest Gas (SWX)
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