Southwest Gas (NYSE:SWX) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Southwest Gas (NYSE:SWX) had its target price lowered by JPMorgan Chase & Co. from $102.00 to $101.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other research firms have also weighed in on SWX. Scotiabank initiated coverage on shares of Southwest Gas in a research report on Tuesday, September 29th. They set a “sector outperform” rating and a $95.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $106.00 price objective on shares of Southwest Gas in a report on Monday, October 5th. Wall Street Zen downgraded shares of Southwest Gas from a “hold” rating to a “sell” rating in a report on Sunday, October 4th. Wells Fargo & Company raised their target price on shares of Southwest Gas from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings cut Southwest Gas from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, September 14th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.25.

Southwest Gas Trading Up 3.1%

Shares of SWX opened at $91.13 on Tuesday. Southwest Gas has a 52-week low of $76.99 and a 52-week high of $94.46. The company has a quick ratio of 0.99, a current ratio of 1.12 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average is $86.69 and its two-hundred day moving average is $88.87. The stock has a market cap of $6.60 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.86 and a beta of 0.57.

Southwest Gas (NYSE:SWX) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $358.15 million during the quarter, compared to analyst estimates of $416.20 million. Southwest Gas had a net margin of 31.85% and a return on equity of 6.79%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. Research analysts forecast that Southwest Gas will post 4.27 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a $0.6450 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 2.8%. Southwest Gas’s dividend payout ratio is currently 33.68%.

Insider Activity

In related news, SVP Julie Williams sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $81.81, for a total transaction of $204,525.00. Following the completion of the sale, the senior vice president directly owned 26,450 shares in the company, valued at approximately $2,163,874.50. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Southwest Gas

Several hedge funds have recently bought and sold shares of the company. Inspire Investing LLC grew its stake in shares of Southwest Gas by 2.1% during the third quarter. Inspire Investing LLC now owns 7,800 shares of the utilities provider’s stock worth $636,000 after purchasing an additional 159 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Southwest Gas by 5.5% in the 3rd quarter. Yousif Capital Management LLC now owns 19,457 shares of the utilities provider’s stock valued at $1,587,000 after buying an additional 1,017 shares during the last quarter. MBL Wealth LLC acquired a new stake in Southwest Gas during the 3rd quarter worth $287,000. Root Financial Partners LLC acquired a new stake in Southwest Gas during the 3rd quarter worth $30,000. Finally, Crossmark Global Holdings Inc. raised its stake in Southwest Gas by 1.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,065 shares of the utilities provider’s stock worth $495,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

About Southwest Gas

Southwest Gas Corporation (NYSE: SWX) is a regulated natural gas distribution utility serving residential, commercial and industrial customers. The company purchases, transports and delivers natural gas through its distribution networks, while also providing services related to system operations, maintenance, customer support and energy conservation.

Southwest Gas serves communities in Arizona, Nevada and portions of California. Its service territory includes major metropolitan areas such as Las Vegas and Phoenix, as well as numerous smaller communities across the southwestern United States.