Southwest Gas (NYSE:SWX) Now Covered by Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group began coverage on shares of Southwest Gas (NYSE:SWX) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $73.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 5.38% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Bank of America reaffirmed an “underperform” rating and issued a $73.00 price objective on shares of Southwest Gas in a report on Friday, December 13th. Wells Fargo & Company upped their price target on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, Southwest Gas currently has a consensus rating of “Hold” and an average target price of $73.40.

Southwest Gas Stock Performance

NYSE SWX opened at $69.27 on Tuesday. The firm has a market capitalization of $4.97 billion, a P/E ratio of 27.93, a PEG ratio of 3.84 and a beta of 0.43. Southwest Gas has a fifty-two week low of $57.55 and a fifty-two week high of $80.29. The stock has a 50-day simple moving average of $73.82 and a two-hundred day simple moving average of $73.06. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85.

Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.12 billion. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, equities analysts forecast that Southwest Gas will post 3.16 earnings per share for the current year.

Insider Transactions at Southwest Gas

In other Southwest Gas news, major shareholder Carl C. Icahn sold 1,390,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $76.74, for a total value of $106,668,600.00. Following the transaction, the insider now directly owns 9,632,604 shares of the company’s stock, valued at $739,206,030.96. This trade represents a 12.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Southwest Gas

Institutional investors have recently added to or reduced their stakes in the stock. ST Germain D J Co. Inc. grew its stake in shares of Southwest Gas by 206.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 845 shares of the utilities provider’s stock valued at $60,000 after buying an additional 569 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of Southwest Gas by 3.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 9,000 shares of the utilities provider’s stock worth $636,000 after purchasing an additional 300 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Southwest Gas during the 4th quarter worth about $484,000. Franklin Resources Inc. lifted its position in Southwest Gas by 88.4% in the third quarter. Franklin Resources Inc. now owns 20,679 shares of the utilities provider’s stock valued at $1,539,000 after buying an additional 9,705 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Southwest Gas by 49.1% during the third quarter. Tidal Investments LLC now owns 10,779 shares of the utilities provider’s stock worth $795,000 after buying an additional 3,550 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.