Southwest Gas Corporation (NYSE:SWX) – Equities researchers at Jefferies Group raised their Q2 2017 earnings per share estimates for Southwest Gas Corporation in a report released on Wednesday. Jefferies Group analyst C. Sighinolfi now forecasts that the utilities provider will post earnings per share of $0.26 for the quarter, up from their prior estimate of $0.19. Jefferies Group has a “Hold” rating and a $70.00 price target on the stock. Jefferies Group also issued estimates for Southwest Gas Corporation’s Q3 2017 earnings at $0.14 EPS, Q4 2017 earnings at $1.49 EPS and FY2019 earnings at $3.65 EPS.
Southwest Gas Corporation (NYSE:SWX) last issued its quarterly earnings results on Monday, May 8th. The utilities provider reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by $0.18. The business had revenue of $654.74 million for the quarter, compared to analysts’ expectations of $741.80 million. Southwest Gas Corporation had a return on equity of 8.65% and a net margin of 6.12%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 EPS.
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SWX has been the topic of a number of other research reports. BidaskClub cut shares of Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Zacks Investment Research cut shares of Southwest Gas Corporation from a “hold” rating to a “sell” rating in a report on Thursday, March 23rd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Southwest Gas Corporation has a consensus rating of “Hold” and a consensus price target of $80.20.
Southwest Gas Corporation (NYSE SWX) opened at 77.84 on Monday. Southwest Gas Corporation has a 12 month low of $64.26 and a 12 month high of $86.65. The stock has a market cap of $3.70 billion, a P/E ratio of 25.50 and a beta of 0.59. The firm’s 50-day moving average price is $77.28 and its 200-day moving average price is $80.34.
Several large investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Southwest Gas Corporation by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 17,279 shares of the utilities provider’s stock valued at $1,262,000 after buying an additional 752 shares during the last quarter. Creative Planning raised its stake in shares of Southwest Gas Corporation by 1.7% in the second quarter. Creative Planning now owns 4,365 shares of the utilities provider’s stock valued at $319,000 after buying an additional 72 shares during the last quarter. GW&K Investment Management LLC purchased a new stake in shares of Southwest Gas Corporation during the second quarter valued at approximately $205,000. Bank of Montreal Can raised its stake in shares of Southwest Gas Corporation by 123.5% in the second quarter. Bank of Montreal Can now owns 221,987 shares of the utilities provider’s stock valued at $16,218,000 after buying an additional 122,663 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Southwest Gas Corporation by 4.0% in the second quarter. Capstone Asset Management Co. now owns 5,976 shares of the utilities provider’s stock valued at $437,000 after buying an additional 230 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.
In other Southwest Gas Corporation news, SVP Eric Debonis sold 350 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $80.02, for a total value of $28,007.00. Following the transaction, the senior vice president now owns 20,057 shares of the company’s stock, valued at $1,604,961.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.34% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.98 dividend on an annualized basis and a yield of 2.54%. Southwest Gas Corporation’s dividend payout ratio is currently 64.71%.
Southwest Gas Corporation Company Profile
Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc (Centuri).
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