Millennium Management LLC Acquires 27,323 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Millennium Management LLC raised its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 266.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,595 shares of the utilities provider's stock after acquiring an additional 27,323 shares during the quarter. Millennium Management LLC owned about 0.05% of Southwest Gas worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in Southwest Gas during the 4th quarter worth about $239,000. Wellington Management Group LLP grew its stake in Southwest Gas by 24.4% during the fourth quarter. Wellington Management Group LLP now owns 1,059,348 shares of the utilities provider's stock valued at $67,110,000 after acquiring an additional 207,798 shares in the last quarter. Kapitalo Investimentos Ltda increased its holdings in Southwest Gas by 4.2% during the 4th quarter. Kapitalo Investimentos Ltda now owns 4,234 shares of the utilities provider's stock worth $268,000 after acquiring an additional 171 shares during the period. BTC Capital Management Inc. bought a new stake in Southwest Gas during the 1st quarter worth approximately $254,000. Finally, Central Valley Advisors LLC purchased a new stake in Southwest Gas in the 1st quarter worth approximately $204,000. Hedge funds and other institutional investors own 92.77% of the company's stock.

Southwest Gas Price Performance

Shares of NYSE:SWX traded up $1.50 during trading on Wednesday, reaching $76.60. The company had a trading volume of 343,199 shares, compared to its average volume of 388,048. Southwest Gas Holdings, Inc. has a 12 month low of $56.17 and a 12 month high of $78.46. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $5.49 billion, a P/E ratio of 30.40, a price-to-earnings-growth ratio of 3.80 and a beta of 0.38. The company has a fifty day moving average of $72.49 and a two-hundred day moving average of $73.60.

Southwest Gas (NYSE:SWX - Get Free Report) last released its earnings results on Tuesday, August 6th. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.17). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 6.18%. The firm's revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. Equities research analysts forecast that Southwest Gas Holdings, Inc. will post 3.2 earnings per share for the current year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, November 15th. Southwest Gas's payout ratio is presently 98.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SWX shares. Wells Fargo & Company upped their price target on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on Southwest Gas from $78.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th.

Insider Activity

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $73.14, for a total value of $56,098.38. Following the completion of the sale, the chief financial officer now owns 43,438 shares in the company, valued at approximately $3,177,055.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.39% of the company's stock.

Southwest Gas 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.