Proficio Capital Partners LLC acquired a new position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,142 shares of the utilities provider's stock, valued at approximately $1,000,000.
Other institutional investors also recently made changes to their positions in the company. Atria Investments Inc lifted its stake in shares of Southwest Gas by 15.2% in the fourth quarter. Atria Investments Inc now owns 4,607 shares of the utilities provider's stock valued at $326,000 after purchasing an additional 608 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Southwest Gas by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,723 shares of the utilities provider's stock worth $70,054,000 after acquiring an additional 12,913 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Southwest Gas by 60.7% in the 4th quarter. Jones Financial Companies Lllp now owns 27,809 shares of the utilities provider's stock worth $1,966,000 after acquiring an additional 10,500 shares during the period. Bailard Inc. grew its holdings in shares of Southwest Gas by 43.3% in the 4th quarter. Bailard Inc. now owns 8,600 shares of the utilities provider's stock worth $608,000 after acquiring an additional 2,600 shares during the period. Finally, Sage Investment Counsel LLC acquired a new position in Southwest Gas during the fourth quarter worth $272,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on SWX shares. Bank of America reissued an "underperform" rating and issued a $73.00 target price on shares of Southwest Gas in a report on Friday, December 13th. JPMorgan Chase & Co. cut their price objective on Southwest Gas from $76.00 to $72.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH upgraded Southwest Gas to a "strong-buy" rating in a report on Monday, March 17th. 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 analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $74.00.
View Our Latest Stock Analysis on SWX
Southwest Gas Trading Down 2.9 %
Shares of SWX stock traded down $2.21 during mid-day trading on Tuesday, hitting $73.00. 671,356 shares of the company's stock were exchanged, compared to its average volume of 332,375. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 3.16 and a beta of 0.37. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a fifty-two week low of $64.31 and a fifty-two week high of $80.29. The stock has a 50-day simple moving average of $74.78 and a two-hundred day simple moving average of $74.00.
Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.35 billion. Equities analysts expect that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current fiscal year.
Southwest Gas Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.40%. Southwest Gas's dividend payout ratio is presently 90.18%.
About Southwest Gas
(
Free Report)
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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