Analysts Set Southwest Gas Holdings, Inc. (NYSE:SWX) Price Target at $74.00

Southwest Gas Holdings, Inc. (NYSE:SWX) has received an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $74.00.

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Southwest Gas from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Financial Group assumed coverage on Southwest Gas in a report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price objective for the company. JPMorgan Chase & Co. dropped their price target 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. Finally, LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a “strong-buy” rating in a research report on Tuesday, April 22nd.

Southwest Gas Price Performance

Shares of NYSE SWX opened at $76.41 on Monday. The stock’s 50-day moving average is $72.73 and its two-hundred day moving average is $73.69. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 3.16 and a beta of 0.48. Southwest Gas has a 1-year low of $64.31 and a 1-year high of $80.29. 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 (NYSE:SWX) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. Analysts forecast that Southwest Gas will post 3.03 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.25%. Southwest Gas’s dividend payout ratio is currently 90.18%.

Insider Activity

In other Southwest Gas news, major shareholder Carl C. Icahn sold 2,100,000 shares of Southwest Gas stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $74.60, for a total value of $156,660,000.00. Following the completion of the sale, the insider now directly owns 7,532,604 shares of the company’s stock, valued at approximately $561,932,258.40. The trade was a 21.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Southwest Gas

Several hedge funds have recently made changes to their positions in the business. Zimmer Partners LP grew its holdings in Southwest Gas by 884.4% in the 4th quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider’s stock valued at $64,390,000 after buying an additional 818,115 shares during the period. Norges Bank acquired a new stake in shares of Southwest Gas during the 4th quarter worth approximately $51,011,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Southwest Gas by 111.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the utilities provider’s stock worth $63,639,000 after buying an additional 475,000 shares during the period. JPMorgan Chase & Co. raised its holdings in Southwest Gas by 83.3% during the fourth quarter. JPMorgan Chase & Co. now owns 505,555 shares of the utilities provider’s stock worth $35,748,000 after purchasing an additional 229,739 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its position in Southwest Gas by 328.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 223,746 shares of the utilities provider’s stock worth $15,821,000 after buying an additional 171,478 shares during the last quarter. Institutional investors and hedge funds 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.