Southwest Gas Holdings, Inc. (NYSE:SWX) Announces $0.62 Quarterly Dividend

Southwest Gas Holdings, Inc. (NYSE:SWX) declared a quarterly dividend on Wednesday, November 15th, Zacks reports. Shareholders of record on Thursday, February 15th will be given a dividend of 0.62 per share by the utilities provider on Friday, March 1st. This represents a $2.48 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Wednesday, February 14th.

Southwest Gas has increased its dividend payment by an average of 4.4% annually over the last three years and has increased its dividend every year for the last 16 years. Southwest Gas has a dividend payout ratio of 74.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Southwest Gas to earn $3.67 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 67.6%.

Southwest Gas Trading Down 2.3 %

Shares of Southwest Gas stock opened at $60.00 on Friday. Southwest Gas has a 52-week low of $53.79 and a 52-week high of $73.40. The stock has a market cap of $4.29 billion, a PE ratio of -19.54, a PEG ratio of 3.52 and a beta of 0.31. The firm has a 50-day moving average of $59.83 and a 200-day moving average of $61.24. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.90 and a current ratio of 1.90.

Insider Activity

In related news, major shareholder Carl C. Icahn acquired 61,702 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average cost of $61.48 per share, with a total value of $3,793,438.96. Following the completion of the purchase, the insider now directly owns 10,928,190 shares in the company, valued at $671,865,121.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Carl C. Icahn purchased 61,702 shares of the stock in a transaction on Monday, September 11th. The stock was purchased at an average price of $61.48 per share, for a total transaction of $3,793,438.96. Following the acquisition, the insider now owns 10,928,190 shares in the company, valued at $671,865,121.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Carl C. Icahn acquired 600 shares of Southwest Gas stock in a transaction dated Monday, September 25th. The stock was purchased at an average cost of $62.00 per share, for a total transaction of $37,200.00. Following the completion of the purchase, the insider now owns 11,016,668 shares in the company, valued at approximately $683,033,416. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 112,975 shares of company stock valued at $6,943,362. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Southwest Gas

A number of large investors have recently bought and sold shares of SWX. Vanguard Group Inc. increased its stake in shares of Southwest Gas by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 6,646,936 shares of the utilities provider’s stock valued at $520,388,000 after acquiring an additional 690,696 shares in the last quarter. Norges Bank bought a new stake in Southwest Gas in the fourth quarter valued at $39,176,000. Morgan Stanley increased its stake in Southwest Gas by 146.8% in the fourth quarter. Morgan Stanley now owns 882,058 shares of the utilities provider’s stock valued at $54,582,000 after purchasing an additional 524,625 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Southwest Gas by 4.5% during the first quarter. BlackRock Inc. now owns 10,117,342 shares of the utilities provider’s stock valued at $631,828,000 after purchasing an additional 436,206 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of Southwest Gas during the 1st quarter worth about $24,874,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com upgraded Southwest Gas from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Citigroup lowered their price target on shares of Southwest Gas from $70.00 to $61.00 and set a “neutral” rating for the company in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.80.

About Southwest Gas

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. It operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. The company also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.