Maverick Capital Ltd. increased its position in shares of Southwest Gas Corporation (NYSE:SWX – Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,126,927 shares of the utilities provider’s stock after purchasing an additional 78,874 shares during the period. Southwest Gas makes up about 2.1% of Maverick Capital Ltd.’s portfolio, making the stock its 19th biggest holding. Maverick Capital Ltd. owned approximately 2.94% of Southwest Gas worth $184,830,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SWX. Norges Bank acquired a new stake in shares of Southwest Gas during the fourth quarter worth $66,930,000. BROOKFIELD Corp ON grew its stake in shares of Southwest Gas by 106.9% in the first quarter. BROOKFIELD Corp ON now owns 699,626 shares of the utilities provider’s stock valued at $60,797,000 after acquiring an additional 361,556 shares in the last quarter. Renaissance Technologies LLC increased its position in Southwest Gas by 281.2% during the first quarter. Renaissance Technologies LLC now owns 459,000 shares of the utilities provider’s stock worth $39,887,000 after acquiring an additional 338,600 shares during the period. BROOKFIELD Corp ON acquired a new stake in Southwest Gas in the 4th quarter worth about $27,052,000. Finally, Adage Capital Partners GP L.L.C. raised its stake in Southwest Gas by 16.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,648,496 shares of the utilities provider’s stock worth $131,913,000 after purchasing an additional 228,496 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Southwest Gas from $99.00 to $106.00 and gave the stock a “buy” rating in a research report 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. Wells Fargo & Company initiated coverage on Southwest Gas in a research report on Monday, May 11th. They set an “overweight” rating and a $105.00 price target on the stock. Mizuho raised their price objective on Southwest Gas from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. raised Southwest Gas from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $97.29.
Southwest Gas Price Performance
SWX stock opened at $92.07 on Tuesday. The company’s 50-day moving average price is $89.49 and its two-hundred day moving average price is $88.02. The firm has a market cap of $6.66 billion, a P/E ratio of 13.34, a P/E/G ratio of 2.20 and a beta of 0.58. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 0.84. Southwest Gas Corporation has a 12 month low of $75.75 and a 12 month high of $94.46.
Southwest Gas (NYSE:SWX – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.03. Southwest Gas had a net margin of 19.95% and a return on equity of 6.95%. The business had revenue of $585.12 million for the quarter, compared to analyst estimates of $695.52 million. During the same quarter last year, the business posted $1.58 EPS. The firm’s revenue for the quarter was down 21.6% on a year-over-year basis. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, analysts anticipate that Southwest Gas Corporation will post 4.27 earnings per share for the current fiscal year.
Southwest Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.645 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 2.8%. Southwest Gas’s payout ratio is 37.39%.
Southwest Gas Company Profile
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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