StockNews.com Lowers Southwest Gas (NYSE:SWX) to Sell

Southwest Gas (NYSE:SWXGet Rating) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other equities research analysts have also weighed in on the company. Argus upgraded Southwest Gas from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Thursday, June 9th. Wells Fargo & Company reduced their target price on Southwest Gas from $101.00 to $86.00 and set an “equal weight” rating for the company in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.33.

Southwest Gas Stock Up 0.7 %

Shares of Southwest Gas stock opened at $81.78 on Tuesday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 3.93 and a beta of 0.16. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.70 and a quick ratio of 0.70. Southwest Gas has a 52-week low of $62.58 and a 52-week high of $95.62. The stock has a 50-day simple moving average of $81.47 and a 200-day simple moving average of $84.11.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Icahn Carl C increased its position in shares of Southwest Gas by 76.1% during the second quarter. Icahn Carl C now owns 5,103,121 shares of the utilities provider’s stock valued at $444,380,000 after purchasing an additional 2,204,445 shares during the period. BlackRock Inc. increased its position in shares of Southwest Gas by 9.2% during the first quarter. BlackRock Inc. now owns 10,140,343 shares of the utilities provider’s stock valued at $793,886,000 after purchasing an additional 857,178 shares during the period. Vanguard Group Inc. increased its position in shares of Southwest Gas by 11.6% during the first quarter. Vanguard Group Inc. now owns 6,646,936 shares of the utilities provider’s stock valued at $520,388,000 after purchasing an additional 690,696 shares during the period. TIG Advisors LLC bought a new stake in shares of Southwest Gas during the second quarter valued at approximately $43,214,000. Finally, Millennium Management LLC increased its position in shares of Southwest Gas by 441.3% during the second quarter. Millennium Management LLC now owns 491,622 shares of the utilities provider’s stock valued at $42,810,000 after purchasing an additional 400,804 shares during the period. 89.25% of the stock is owned by institutional investors.

About Southwest Gas

(Get Rating)

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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