Southwest Gas (NYSE:SWX) Coverage Initiated at Jefferies Financial Group

Research analysts at Jefferies Financial Group assumed coverage on shares of Southwest Gas (NYSE:SWX - Get Free Report) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a "hold" rating and a $73.00 price target on the utilities provider's stock. Jefferies Financial Group's target price points to a potential upside of 4.49% from the company's current price.

A number of other research analysts have also commented on SWX. Wells Fargo & Company increased their price objective on Southwest Gas from $74.00 to $78.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Bank of America reiterated an "underperform" rating and issued a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, Southwest Gas presently has an average rating of "Hold" and an average price target of $73.40.

Southwest Gas Price Performance

Shares of SWX stock traded up $0.50 during mid-day trading on Tuesday, reaching $69.86. The company's stock had a trading volume of 350,559 shares, compared to its average volume of 301,895. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The firm's 50-day moving average is $73.82 and its two-hundred day moving average is $73.06. Southwest Gas has a 1-year low of $57.55 and a 1-year high of $80.29. The company has a market cap of $5.01 billion, a P/E ratio of 28.17, a PEG ratio of 3.84 and a beta of 0.43.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The business's revenue was down 7.7% compared to the same quarter last year. On average, research analysts predict that Southwest Gas will post 3.16 earnings per share for the current year.

Insider Buying and Selling

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $739,206,030.96. This represents a 12.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.39% of the company's stock.

Institutional Trading of Southwest Gas

Institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake 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 valued at $166,450,000 after buying an additional 22,013 shares during the last quarter. Maverick Capital Ltd. raised 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 acquiring an additional 275,992 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 19,922 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Southwest Gas by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 985,566 shares of the utilities provider's stock valued at $69,370,000 after purchasing an additional 84,987 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Southwest Gas by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 977,810 shares of the utilities provider's stock worth $72,123,000 after purchasing an additional 35,106 shares during the last quarter. Institutional investors own 92.77% of the company's stock.

About Southwest Gas

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.