Sequoia Financial Advisors LLC Makes New $333,000 Investment in Southwest Gas Holdings, Inc. (NYSE:SWX)

Sequoia Financial Advisors LLC bought a new position in Southwest Gas Holdings, Inc. (NYSE:SWX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,264 shares of the utilities provider’s stock, valued at approximately $333,000.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Southwest Gas by 17.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,039 shares of the utilities provider’s stock worth $1,143,000 after acquiring an additional 2,634 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Southwest Gas by 9,907.0% during the fourth quarter. International Assets Investment Management LLC now owns 54,038 shares of the utilities provider’s stock worth $3,423,000 after acquiring an additional 53,498 shares during the period. Allworth Financial LP raised its holdings in shares of Southwest Gas by 520.4% during the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock worth $195,000 after acquiring an additional 2,576 shares during the period. Camelot Portfolios LLC raised its holdings in shares of Southwest Gas by 40.5% during the fourth quarter. Camelot Portfolios LLC now owns 7,648 shares of the utilities provider’s stock worth $484,000 after acquiring an additional 2,203 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Southwest Gas by 78.7% during the fourth quarter. Pacer Advisors Inc. now owns 9,032 shares of the utilities provider’s stock worth $572,000 after acquiring an additional 3,979 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SWX. Citigroup raised their price objective on shares of Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. StockNews.com upgraded shares of Southwest Gas from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th.

Southwest Gas Stock Down 0.6 %

Southwest Gas stock opened at $73.15 on Friday. The company has a market cap of $5.24 billion, a P/E ratio of 34.50, a price-to-earnings-growth ratio of 3.54 and a beta of 0.36. Southwest Gas Holdings, Inc. has a 1-year low of $53.79 and a 1-year high of $76.75. The company has a fifty day simple moving average of $69.70 and a 200 day simple moving average of $63.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.39.

Southwest Gas (NYSE:SWX) last released its earnings results on Wednesday, February 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.16. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. Research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Tuesday, May 14th. Southwest Gas’s dividend payout ratio (DPR) is currently 116.98%.

Southwest Gas Company Profile

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.