GSA Capital Partners LLP bought a new stake in shares of Southwest Gas Corporation (NYSE:SWX – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,456 shares of the utilities provider’s stock, valued at approximately $573,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Maverick Capital Ltd. increased its position in Southwest Gas by 3.9% in the first quarter. Maverick Capital Ltd. now owns 2,126,927 shares of the utilities provider’s stock worth $184,830,000 after buying an additional 78,874 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings 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 acquiring an additional 228,496 shares in the last quarter. Geode Capital Management LLC raised its stake in Southwest Gas by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,602,100 shares of the utilities provider’s stock worth $128,219,000 after acquiring an additional 9,515 shares during the period. Dimensional Fund Advisors LP raised its stake in Southwest Gas by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,060,751 shares of the utilities provider’s stock worth $84,883,000 after acquiring an additional 5,882 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Southwest Gas by 0.4% during the fourth quarter. Gabelli Funds LLC now owns 1,014,287 shares of the utilities provider’s stock valued at $81,163,000 after purchasing an additional 4,145 shares in the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.
Southwest Gas Stock Down 0.5%
NYSE SWX opened at $91.33 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.71 and a current ratio of 0.83. The company has a market capitalization of $6.62 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.18 and a beta of 0.57. Southwest Gas Corporation has a one year low of $75.75 and a one year high of $94.46. The stock has a 50 day moving average price of $90.68 and a 200-day moving average price of $89.05.
Southwest Gas Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a $0.645 dividend. The ex-dividend date 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 33.68%.
Analyst Upgrades and Downgrades
SWX has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of Southwest Gas from $99.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. UBS Group set a $100.00 price objective on Southwest Gas in a research report on Thursday, May 7th. Mizuho set a $103.00 price target on Southwest Gas in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Southwest Gas from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company upped their target price on shares of Southwest Gas from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Southwest Gas currently has a consensus rating of “Moderate Buy” and an average price target of $98.29.
Get Our Latest Research Report on SWX
Southwest Gas 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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