US Bancorp DE decreased its position in Southwest Gas Holdings, Inc. (NYSE:SWX - Free Report) by 36.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,820 shares of the utilities provider's stock after selling 5,544 shares during the period. US Bancorp DE's holdings in Southwest Gas were worth $694,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Sage Investment Counsel LLC purchased a new position in Southwest Gas during the fourth quarter valued at approximately $272,000. Proficio Capital Partners LLC purchased a new position in shares of Southwest Gas during the 4th quarter valued at $1,000,000. Bank of New York Mellon Corp increased its stake in shares of Southwest Gas by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 906,207 shares of the utilities provider's stock worth $64,078,000 after acquiring an additional 43,030 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Southwest Gas by 4.5% during the fourth quarter. New York State Common Retirement Fund now owns 279,607 shares of the utilities provider's stock worth $19,771,000 after acquiring an additional 12,018 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in Southwest Gas by 1.1% during the fourth quarter. D.A. Davidson & CO. now owns 15,766 shares of the utilities provider's stock valued at $1,115,000 after purchasing an additional 175 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.
Southwest Gas Stock Performance
Shares of NYSE SWX traded down $0.92 during trading hours on Tuesday, hitting $71.87. 435,530 shares of the company's stock were exchanged, compared to its average volume of 338,325. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 3.16 and a beta of 0.37. The company's 50-day moving average price is $73.89 and its 200-day moving average price is $73.80. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. Southwest Gas Holdings, Inc. has a 1-year low of $64.31 and a 1-year high of $80.29.
Southwest Gas (NYSE:SWX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.35 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. On average, sell-side analysts expect that Southwest Gas Holdings, Inc. will post 3.03 earnings per share for the current fiscal year.
Southwest Gas Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Thursday, May 15th. Southwest Gas's payout ratio is 90.18%.
Analyst Ratings Changes
A number of research firms have recently weighed in on SWX. Bank of America reaffirmed an "underperform" rating and set a $73.00 price target on shares of Southwest Gas in a research note on Friday, December 13th. JPMorgan Chase & Co. reduced their target price on shares of Southwest Gas from $76.00 to $72.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH raised shares of Southwest Gas to a "strong-buy" rating in a research report on Friday, January 24th. Finally, Jefferies Financial Group began coverage on shares of Southwest Gas in a report on Tuesday, January 14th. They set a "hold" rating and a $73.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $74.00.
Check Out Our Latest Analysis on SWX
Southwest Gas Profile
(
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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