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

Research analysts at Jefferies Financial Group initiated coverage on shares of Southwest Gas (NYSE:SWX) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage 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 company’s current price.

Several other research analysts have also recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Bank of America reiterated an “underperform” rating and set a $73.00 target price on shares of Southwest Gas in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Southwest Gas currently has a consensus rating of “Hold” and an average target price of $73.40.

Southwest Gas Stock Performance

Shares of SWX stock opened at $69.27 on Tuesday. Southwest Gas has a 52 week low of $57.55 and a 52 week high of $80.29. The firm has a 50 day moving average of $73.82 and a two-hundred day moving average of $73.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $4.97 billion, a PE ratio of 27.93, a P/E/G ratio of 3.84 and a beta of 0.43.

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

Insider Activity

In other news, major shareholder Carl C. Icahn sold 1,390,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total value of $106,668,600.00. Following the completion of the sale, the insider now directly owns 9,632,604 shares of the company’s stock, valued at approximately $739,206,030.96. The trade was a 12.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Southwest Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SWX. UMB Bank n.a. increased its holdings in shares of Southwest Gas by 67.2% in the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 160 shares during the period. Waldron Private Wealth LLC acquired a new stake in shares of Southwest Gas during the third quarter worth about $40,000. Blue Trust Inc. grew its holdings in shares of Southwest Gas by 37.5% during the third quarter. Blue Trust Inc. now owns 789 shares of the utilities provider’s stock worth $56,000 after buying an additional 215 shares during the last quarter. ST Germain D J Co. Inc. increased its position in 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 acquiring an additional 569 shares during the period. Finally, nVerses Capital LLC purchased a new stake in Southwest Gas during the 3rd quarter valued at approximately $66,000. 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.