Southwest Gas (NYSE:SWX) Stock Rating Lowered by ValuEngine

Southwest Gas (NYSE:SWX) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. started coverage on Southwest Gas in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $93.00 target price for the company. UBS Group set a $91.00 target price on Southwest Gas and gave the stock a “hold” rating in a research report on Friday, July 19th. Williams Capital raised Southwest Gas from a “hold” rating to a “buy” rating and lifted their target price for the company from $81.00 to $96.00 in a research note on Tuesday, June 18th. Zacks Investment Research raised Southwest Gas from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, July 17th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Southwest Gas in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $89.00.

NYSE SWX traded down $0.77 during mid-day trading on Thursday, reaching $89.11. 201,757 shares of the company’s stock traded hands, compared to its average volume of 154,974. Southwest Gas has a 1-year low of $72.68 and a 1-year high of $91.93. The firm’s fifty day simple moving average is $89.81. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $4.75 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 3.67 and a beta of 0.33.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Southwest Gas had a return on equity of 9.34% and a net margin of 6.69%. The firm had revenue of $807.10 million during the quarter, compared to analyst estimates of $516.97 million. During the same quarter last year, the firm earned $1.63 EPS. Southwest Gas’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts expect that Southwest Gas will post 3.92 earnings per share for the current year.

In other news, SVP Eric Debonis sold 350 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $83.19, for a total value of $29,116.50. Following the sale, the senior vice president now owns 10,800 shares of the company’s stock, valued at approximately $898,452. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John P. Hester sold 2,000 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $85.46, for a total value of $170,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,694 shares in the company, valued at approximately $5,699,669.24. The disclosure for this sale can be found here. Insiders have sold a total of 6,350 shares of company stock worth $555,637 in the last ninety days. 0.83% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sageworth Trust Co acquired a new position in shares of Southwest Gas in the 1st quarter worth $25,000. Quadrant Capital Group LLC grew its holdings in shares of Southwest Gas by 189.9% in the 1st quarter. Quadrant Capital Group LLC now owns 400 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 262 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of Southwest Gas by 39.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 407 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 115 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Southwest Gas in the 1st quarter worth $41,000. Finally, NEXT Financial Group Inc purchased a new position in shares of Southwest Gas during the second quarter valued at $47,000. 82.64% of the stock is currently owned by institutional investors.

About Southwest Gas

Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.

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