Southwest Gas (NYSE:SWX) Shares Gap Down to $71.46

Southwest Gas Holdings, Inc. (NYSE:SWX)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $71.46, but opened at $64.31. Southwest Gas shares last traded at $66.86, with a volume of 29,978 shares.

Analysts Set New Price Targets

Separately, Wells Fargo & Company initiated coverage on Southwest Gas in a report on Monday, May 13th. They issued an “equal weight” rating and a $77.00 price target for the company.

Southwest Gas Trading Down 1.0 %

The stock has a market capitalization of $5.07 billion, a PE ratio of 26.81, a P/E/G ratio of 3.76 and a beta of 0.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50 day moving average price is $73.45 and its two-hundred day moving average price is $71.10.

Southwest Gas (NYSE:SWX) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.33). Southwest Gas had a return on equity of 6.71% and a net margin of 3.56%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm earned $1.69 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts expect that Southwest Gas Holdings, Inc. will post 3.28 earnings per share for the current year.

Insider Transactions at Southwest Gas

In other Southwest Gas news, insider Justin L. Brown sold 2,625 shares of Southwest Gas stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $76.50, for a total transaction of $200,812.50. Following the completion of the sale, the insider now directly owns 23,830 shares in the company, valued at $1,822,995. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Southwest Gas

Several institutional investors and hedge funds have recently modified their holdings of SWX. Norges Bank acquired a new position in shares of Southwest Gas in the fourth quarter valued at approximately $36,054,000. Wellington Management Group LLP grew its stake in shares of Southwest Gas by 24.4% in the fourth quarter. Wellington Management Group LLP now owns 1,059,348 shares of the utilities provider’s stock worth $67,110,000 after acquiring an additional 207,798 shares in the last quarter. 13D Management LLC increased its position in shares of Southwest Gas by 1,374.2% during the fourth quarter. 13D Management LLC now owns 113,232 shares of the utilities provider’s stock worth $7,173,000 after acquiring an additional 105,551 shares during the period. Bank of New York Mellon Corp increased its position in shares of Southwest Gas by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 1,053,094 shares of the utilities provider’s stock worth $74,117,000 after acquiring an additional 68,254 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Southwest Gas by 41.9% in the second quarter. Victory Capital Management Inc. now owns 206,114 shares of the utilities provider’s stock valued at $14,506,000 after purchasing an additional 60,856 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

About Southwest Gas

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.