State of Alaska Department of Revenue raised its stake in Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,597 shares of the utilities provider's stock after purchasing an additional 250 shares during the period. State of Alaska Department of Revenue's holdings in Southwest Gas were worth $835,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of SWX. Kepos Capital LP bought a new stake in shares of Southwest Gas in the 4th quarter worth about $72,000. Point72 Hong Kong Ltd acquired a new position in shares of Southwest Gas in the 4th quarter valued at about $94,000. FNY Investment Advisers LLC acquired a new position in shares of Southwest Gas in the 1st quarter valued at about $109,000. Parallel Advisors LLC boosted its holdings in shares of Southwest Gas by 28.0% in the 1st quarter. Parallel Advisors LLC now owns 1,515 shares of the utilities provider's stock valued at $120,000 after buying an additional 331 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Southwest Gas by 44.3% in the 1st quarter. Signaturefd LLC now owns 1,648 shares of the utilities provider's stock valued at $129,000 after buying an additional 506 shares during the period. Institutional investors own 89.25% of the company's stock.
Get Southwest Gas alerts:Analyst Ratings Changes
Several research analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Southwest Gas from $101.00 to $86.00 and set an "equal weight" rating for the company in a report on Wednesday, August 10th. Argus raised shares of Southwest Gas from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a report on Thursday, June 9th. Finally, StockNews.com lowered shares of Southwest Gas from a "hold" rating to a "sell" rating in a report on Tuesday, September 20th. One equities 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, the company has an average rating of "Hold" and an average price target of $91.33.
Southwest Gas Trading Down 3.8 %
Southwest Gas stock opened at $71.41 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.33. The firm has a 50-day moving average price of $80.03 and a two-hundred day moving average price of $84.12. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 29.27, 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.Southwest Gas (NYSE:SWX – Get Rating) last posted its earnings results on Tuesday, August 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.30). Southwest Gas had a net margin of 3.37% and a return on equity of 6.96%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $0.43 earnings per share. Sell-side analysts expect that Southwest Gas Holdings, Inc. will post 4.13 earnings per share for the current year.
Southwest Gas Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.47%. Southwest Gas's dividend payout ratio (DPR) is 101.64%.
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.
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