Geode Capital Management LLC lifted its holdings in Southwest Gas Corporation (NYSE:SWX – Free Report) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,602,100 shares of the utilities provider’s stock after acquiring an additional 9,515 shares during the quarter. Geode Capital Management LLC’s holdings in Southwest Gas were worth $128,219,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC lifted its position in Southwest Gas by 74.7% during the first quarter. Millennium Management LLC now owns 209,934 shares of the utilities provider’s stock valued at $15,073,000 after acquiring an additional 89,761 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Southwest Gas by 14.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 190,852 shares of the utilities provider’s stock valued at $13,703,000 after acquiring an additional 24,688 shares during the last quarter. M&T Bank Corp purchased a new stake in Southwest Gas during the second quarter valued at approximately $213,000. Arrowstreet Capital Limited Partnership lifted its position in Southwest Gas by 70.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 36,647 shares of the utilities provider’s stock valued at $2,726,000 after acquiring an additional 15,127 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Southwest Gas by 2.6% during the second quarter. Invesco Ltd. now owns 393,080 shares of the utilities provider’s stock valued at $29,241,000 after acquiring an additional 10,122 shares during the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.
Wall Street Analyst Weigh In
SWX has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of Southwest Gas from $99.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Southwest Gas from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. UBS Group set a $100.00 target price on Southwest Gas in a research note on Thursday, May 7th. Wells Fargo & Company started coverage on Southwest Gas in a research note on Monday, May 11th. They issued an “overweight” rating and a $105.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded Southwest Gas from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $97.00.
Southwest Gas Stock Up 1.7%
SWX stock opened at $87.18 on Friday. The firm has a market cap of $6.31 billion, a PE ratio of 12.63, a P/E/G ratio of 2.04 and a beta of 0.58. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.32 and a current ratio of 1.45. The firm’s fifty day moving average is $89.33 and its 200 day moving average is $85.57. Southwest Gas Corporation has a one year low of $70.03 and a one year high of $94.43.
Southwest Gas (NYSE:SWX – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.88 by $0.03. The company had revenue of $585.12 million for the quarter, compared to analyst estimates of $695.52 million. Southwest Gas had a net margin of 19.95% and a return on equity of 6.95%. The firm’s revenue was down 21.6% on a year-over-year basis. During the same quarter last year, the business earned $1.58 earnings per share. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, research analysts forecast that Southwest Gas Corporation will post 4.25 EPS for the current year.
Southwest Gas Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a dividend of $0.645 per share. This is an increase from Southwest Gas’s previous quarterly dividend of $0.62. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. Southwest Gas’s dividend payout ratio is presently 37.39%.
About Southwest Gas
Southwest Gas Corporation (NYSE: SWX) is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company’s core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.
Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation’s larger natural gas utilities by customer count.
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