Cibc World Markets Corp Buys New Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Cibc World Markets Corp bought a new stake in Southwest Gas Holdings, Inc. (NYSE:SWX) in the fourth quarter, HoldingsChannel reports. The fund bought 5,700 shares of the utilities provider’s stock, valued at approximately $403,000.

A number of other large investors have also recently made changes to their positions in SWX. Natixis Advisors LLC boosted its position in shares of Southwest Gas by 3.2% in the 3rd quarter. Natixis Advisors LLC now owns 11,644 shares of the utilities provider’s stock valued at $859,000 after purchasing an additional 365 shares during the period. Pathstone Holdings LLC boosted its position in shares of Southwest Gas by 0.6% in the 3rd quarter. Pathstone Holdings LLC now owns 27,125 shares of the utilities provider’s stock valued at $2,001,000 after purchasing an additional 165 shares during the period. Intech Investment Management LLC boosted its position in shares of Southwest Gas by 112.4% in the 3rd quarter. Intech Investment Management LLC now owns 10,849 shares of the utilities provider’s stock valued at $800,000 after purchasing an additional 5,740 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Southwest Gas by 0.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 654,930 shares of the utilities provider’s stock valued at $48,308,000 after purchasing an additional 6,059 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 acquiring an additional 35,106 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Stock Down 1.1 %

SWX opened at $75.18 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $74.66 and a 200-day simple moving average of $73.97. The stock has a market capitalization of $5.40 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.16 and a beta of 0.37. Southwest Gas Holdings, Inc. has a 12 month low of $64.31 and a 12 month high of $80.29.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results 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 business 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, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.30%. Southwest Gas’s dividend payout ratio is currently 90.18%.

Wall Street Analyst Weigh In

SWX has been the subject of a number of recent research reports. Bank of America reaffirmed an “underperform” rating and set a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. Jefferies Financial Group initiated coverage on Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price objective for the company. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. decreased their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.00.

Southwest Gas 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.