Southwest Gas (NYSE:SWX) Given New $88.00 Price Target at Jefferies Financial Group

Southwest Gas (NYSE:SWX) had its price objective increased by equities research analysts at Jefferies Financial Group from $82.00 to $88.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s target price points to a potential upside of 11.13% from the company’s previous close.

Several other equities analysts have also commented on the stock. Bank of America raised shares of Southwest Gas from a “neutral” rating to a “buy” rating and upped their price target for the stock from $76.00 to $84.00 in a research report on Friday, August 29th. JPMorgan Chase & Co. dropped their price target on shares of Southwest Gas from $79.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Southwest Gas from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Southwest Gas Stock Performance

Shares of SWX stock opened at $79.19 on Wednesday. Southwest Gas has a one year low of $64.69 and a one year high of $80.54. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.94 and a current ratio of 1.01. The company has a 50 day moving average price of $77.89 and a 200 day moving average price of $74.45. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 2.04 and a beta of 0.55.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. Southwest Gas had a net margin of 4.06% and a return on equity of 6.98%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. Southwest Gas’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Southwest Gas will post 3.03 EPS for the current year.

Hedge Funds Weigh In On Southwest Gas

Hedge funds have recently made changes to their positions in the business. Private Trust Co. NA acquired a new position in shares of Southwest Gas in the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Southwest Gas by 223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 440 shares of the utilities provider’s stock worth $33,000 after buying an additional 304 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Southwest Gas by 1,055.0% during the 1st quarter. Farther Finance Advisors LLC now owns 462 shares of the utilities provider’s stock worth $33,000 after buying an additional 422 shares during the period. Simplex Trading LLC acquired a new position in Southwest Gas during the 2nd quarter valued at $36,000. Finally, Headlands Technologies LLC raised its stake in Southwest Gas by 144.0% during the 1st quarter. Headlands Technologies LLC now owns 510 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 301 shares during the last quarter. Institutional investors and hedge funds 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.