Williams Capital initiated coverage on shares of Southwest Gas (NYSE:SWX) in a research report sent to investors on Tuesday, April 10th, MarketBeat reports. The brokerage issued a hold rating and a $73.00 price target on the utilities provider’s stock.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Southwest Gas from a hold rating to a buy rating and set a $90.00 price objective on the stock in a research note on Friday, January 5th. UBS raised shares of Southwest Gas from a neutral rating to a buy rating and set a $85.00 price objective on the stock in a research note on Tuesday, December 19th. Jefferies Group reissued a hold rating and issued a $69.00 price objective on shares of Southwest Gas in a research note on Wednesday, March 28th. Finally, Citigroup decreased their price objective on shares of Southwest Gas from $82.00 to $73.00 and set a neutral rating on the stock in a research note on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Southwest Gas currently has a consensus rating of Hold and a consensus target price of $76.00.
Shares of SWX traded up $0.05 during mid-day trading on Tuesday, hitting $72.62. 271,715 shares of the company’s stock were exchanged, compared to its average volume of 231,375. The stock has a market capitalization of $3,472.76, a PE ratio of 20.06 and a beta of 0.53. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. Southwest Gas has a 52 week low of $62.53 and a 52 week high of $86.87.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, May 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Southwest Gas’s previous quarterly dividend of $0.50. Southwest Gas’s dividend payout ratio (DPR) is currently 54.70%.
In other Southwest Gas news, SVP Eric Debonis sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $63.43, for a total value of $88,802.00. Following the sale, the senior vice president now owns 14,229 shares in the company, valued at $902,545.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of SWX. First Republic Investment Management Inc. acquired a new stake in Southwest Gas in the fourth quarter valued at approximately $203,000. Advisor Group Inc. lifted its holdings in shares of Southwest Gas by 61.5% during the fourth quarter. Advisor Group Inc. now owns 2,545 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 969 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Southwest Gas by 37.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,621 shares of the utilities provider’s stock worth $211,000 after purchasing an additional 718 shares during the period. LPL Financial LLC acquired a new position in shares of Southwest Gas during the fourth quarter worth $214,000. Finally, Zeke Capital Advisors LLC acquired a new position in shares of Southwest Gas during the fourth quarter worth $232,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.
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Southwest Gas Company Profile
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.
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