Southwest Gas Holdings, Inc. (NYSE:SWX) Shares Acquired by Hennessy Advisors Inc.

Hennessy Advisors Inc. raised its position in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 19.2% in the second quarter, HoldingsChannel reports. The firm owned 87,717 shares of the utilities provider’s stock after acquiring an additional 14,100 shares during the period. Hennessy Advisors Inc.’s holdings in Southwest Gas were worth $6,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Southwest Gas during the fourth quarter valued at approximately $36,054,000. Wellington Management Group LLP boosted its position in Southwest Gas by 24.4% during the 4th 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 during the period. 13D Management LLC grew its stake in shares of Southwest Gas by 1,374.2% in the fourth quarter. 13D Management LLC now owns 113,232 shares of the utilities provider’s stock worth $7,173,000 after purchasing an additional 105,551 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Southwest Gas by 9,907.0% in the fourth quarter. International Assets Investment Management LLC now owns 54,038 shares of the utilities provider’s stock worth $3,423,000 after purchasing an additional 53,498 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Southwest Gas by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 856,249 shares of the utilities provider’s stock valued at $54,245,000 after purchasing an additional 34,995 shares during the period. Institutional investors own 92.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SWX. Wells Fargo & Company decreased their target price on shares of Southwest Gas from $77.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

Southwest Gas Price Performance

NYSE:SWX opened at $71.39 on Friday. Southwest Gas Holdings, Inc. has a 52-week low of $56.17 and a 52-week high of $78.46. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.38. The firm has a market cap of $5.12 billion, a P/E ratio of 26.74, a PEG ratio of 3.61 and a beta of 0.37. The business’s 50-day moving average price is $72.49 and its 200 day moving average price is $71.97.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm earned $0.47 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Southwest Gas Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

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.