Southwest Gas (NYSE:SWX) Upgraded by LADENBURG THALM/SH SH to "Strong-Buy" Rating

Southwest Gas (NYSE:SWX - Get Free Report) was upgraded by stock analysts at LADENBURG THALM/SH SH to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on SWX. JPMorgan Chase & Co. decreased their price objective on shares of Southwest Gas from $76.00 to $72.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group began coverage on Southwest Gas in a research note 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, three have issued a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Southwest Gas currently has a consensus rating of "Hold" and a consensus target price of $74.00.

Southwest Gas Stock Down 0.9 %

Shares of NYSE SWX traded down $0.68 during trading on Tuesday, reaching $72.54. The company had a trading volume of 213,141 shares, compared to its average volume of 351,684. The business's 50-day moving average is $73.17 and its 200 day moving average is $73.75. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The stock has a market cap of $5.21 billion, a PE ratio of 29.25, a P/E/G ratio of 3.16 and a beta of 0.50. Southwest Gas has a 12-month low of $64.31 and a 12-month high of $80.29.

Southwest Gas (NYSE:SWX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. As a group, equities analysts forecast that Southwest Gas will post 3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 2,100,000 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $74.60, for a total transaction of $156,660,000.00. Following the completion of the sale, the insider now directly owns 7,532,604 shares in the company, valued at $561,932,258.40. The trade was a 21.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Southwest Gas

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Xponance Inc. raised its position in Southwest Gas by 5.0% in the fourth quarter. Xponance Inc. now owns 8,588 shares of the utilities provider's stock worth $607,000 after acquiring an additional 406 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Southwest Gas by 31.1% in the 4th quarter. Hennessy Advisors Inc. now owns 110,817 shares of the utilities provider's stock worth $7,836,000 after purchasing an additional 26,300 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Southwest Gas in the 4th quarter worth $1,000,000. O Keefe Stevens Advisory Inc. lifted its position in Southwest Gas by 45.0% during the fourth quarter. O Keefe Stevens Advisory Inc. now owns 11,775 shares of the utilities provider's stock valued at $833,000 after purchasing an additional 3,654 shares in the last quarter. Finally, Barclays PLC grew its holdings in Southwest Gas by 192.7% during the third quarter. Barclays PLC now owns 105,134 shares of the utilities provider's stock valued at $7,755,000 after purchasing an additional 69,212 shares during the period. Hedge funds and other institutional investors own 92.77% of the company's stock.

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.