Ieq Capital LLC Purchases New Holdings in Southwest Gas Corporation $SWX

Ieq Capital LLC acquired a new position in Southwest Gas Corporation (NYSE:SWX) in the second quarter, Holdings Channel reports. The firm acquired 36,232 shares of the utilities provider’s stock, valued at approximately $3,213,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SWX. Bell Investment Advisors Inc acquired a new stake in Southwest Gas during the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Southwest Gas by 223.5% in the second quarter. EverSource Wealth Advisors LLC now owns 440 shares of the utilities provider’s stock worth $33,000 after buying an additional 304 shares during the period. Kingdom Financial Group LLC. acquired a new stake in shares of Southwest Gas in the fourth quarter worth $56,000. Harbour Investments Inc. grew its holdings in shares of Southwest Gas by 301.0% during the fourth quarter. Harbour Investments Inc. now owns 834 shares of the utilities provider’s stock valued at $67,000 after buying an additional 626 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Southwest Gas by 21.3% during the second quarter. Daiwa Securities Group Inc. now owns 939 shares of the utilities provider’s stock valued at $70,000 after buying an additional 165 shares in the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Stock Up 0.8%

Shares of Southwest Gas stock opened at $89.56 on Tuesday. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 2.11 and a beta of 0.57. The stock has a 50-day simple moving average of $90.71 and a 200-day simple moving average of $89.14. Southwest Gas Corporation has a 52-week low of $76.17 and a 52-week high of $94.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.83 and a quick ratio of 0.71.

Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $358.15 million for the quarter, compared to the consensus estimate of $416.20 million. Southwest Gas had a return on equity of 6.91% and a net margin of 31.85%.The firm’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) earnings per share. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, equities research analysts expect that Southwest Gas Corporation will post 4.25 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.645 dividend. This represents a $2.58 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 17th. Southwest Gas’s dividend payout ratio (DPR) is 33.68%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SWX. Mizuho set a $103.00 price objective on Southwest Gas in a research note on Wednesday, August 5th. Wall Street Zen downgraded Southwest Gas from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings lowered shares of Southwest Gas from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, August 17th. UBS Group set a $100.00 price target on shares of Southwest Gas in a report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Southwest Gas from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.29.

Southwest Gas Company Profile

Southwest Gas Corporation (NYSE: SWX) is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company’s core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation’s larger natural gas utilities by customer count.