Southwest Gas (NYSE:SWX) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.16), Briefing.com reports. The business had revenue of $725.23 million for the quarter, compared to analysts’ expectations of $229.10 million. Southwest Gas had a return on equity of 8.86% and a net margin of 6.61%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share.
Shares of Southwest Gas stock traded down $1.64 on Friday, reaching $78.09. 384,894 shares of the company were exchanged, compared to its average volume of 249,910. Southwest Gas has a 1-year low of $72.68 and a 1-year high of $92.94. The company has a market cap of $4.61 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.92 and a beta of 0.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day moving average price is $88.85 and its 200-day moving average price is $88.16.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 14th. Southwest Gas’s dividend payout ratio is presently 59.24%.
In other news, VP Kenneth J. Kenny sold 500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $90.26, for a total transaction of $45,130.00. Following the completion of the transaction, the vice president now directly owns 16,121 shares of the company’s stock, valued at $1,455,081.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.83% of the company’s stock.
A number of analysts have issued reports on SWX shares. UBS Group set a $91.00 price target on shares of Southwest Gas and gave the stock a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Co set a $93.00 price objective on Southwest Gas and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. ValuEngine downgraded Southwest Gas from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on Southwest Gas in a research report on Wednesday, July 17th. They set an “overweight” rating and a $93.00 price objective for the company. Finally, Zacks Investment Research downgraded Southwest Gas from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $94.60.
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 two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
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