JPMorgan Chase & Co. Lowers Southwest Gas (NYSE:SWX) Price Target to $72.00

Southwest Gas (NYSE:SWX - Get Free Report) had its price target reduced by JPMorgan Chase & Co. from $76.00 to $72.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the utilities provider's stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 3.47% from the company's previous close.

Other analysts have also issued research reports about the company. Bank of America reiterated an "underperform" rating and set a $73.00 price objective on shares of Southwest Gas in a report on Friday, December 13th. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group assumed coverage on Southwest Gas in a report on Tuesday, January 14th. They issued a "hold" rating and a $73.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Southwest Gas has a consensus rating of "Hold" and a consensus price target of $73.80.

Southwest Gas Stock Down 0.5 %

Shares of SWX traded down $0.38 during trading hours on Tuesday, hitting $74.59. The company had a trading volume of 204,161 shares, compared to its average volume of 331,758. Southwest Gas has a one year low of $57.55 and a one year high of $80.29. The company's fifty day moving average price is $72.87 and its two-hundred day moving average price is $73.18. The company has a market capitalization of $5.35 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.08 and a beta of 0.43. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21.

Southwest Gas (NYSE:SWX - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. The company's quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, equities analysts forecast that Southwest Gas will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total transaction of $106,668,600.00. Following the completion of the transaction, the insider now owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. This trade represents a 12.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company's stock.

Institutional Trading of Southwest Gas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in Southwest Gas by 1.0% in the 3rd quarter. State Street Corp now owns 2,256,637 shares of the utilities provider's stock worth $166,450,000 after purchasing an additional 22,013 shares in the last quarter. Maverick Capital Ltd. boosted its holdings in Southwest Gas by 18.5% during the third quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider's stock worth $130,197,000 after buying an additional 275,992 shares in the last quarter. Geode Capital Management LLC grew its position in Southwest Gas by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,450,755 shares of the utilities provider's stock valued at $107,027,000 after buying an additional 19,922 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Southwest Gas by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 977,810 shares of the utilities provider's stock valued at $72,123,000 after buying an additional 35,106 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Southwest Gas by 0.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 654,930 shares of the utilities provider's stock worth $48,308,000 after acquiring an additional 6,059 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

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.