Jefferies Group Brokers Boost Earnings Estimates for Southwest Gas Corporation (SWX)

Southwest Gas Corporation (NYSE:SWX) – Investment analysts at Jefferies Group upped their Q3 2017 earnings per share (EPS) estimates for shares of Southwest Gas Corporation in a research note issued on Thursday. Jefferies Group analyst C. Sighinolfi now forecasts that the utilities provider will post earnings per share of $0.17 for the quarter, up from their previous forecast of $0.14. Jefferies Group has a “Hold” rating and a $70.00 price objective on the stock. Jefferies Group also issued estimates for Southwest Gas Corporation’s FY2018 earnings at $3.56 EPS, FY2019 earnings at $3.64 EPS, FY2020 earnings at $3.95 EPS and FY2021 earnings at $4.26 EPS.

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Zacks Investment Research raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, KeyCorp reissued a “hold” rating on shares of Southwest Gas Corporation in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $80.50.

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Southwest Gas Corporation (NYSE SWX) opened at 79.50 on Monday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 24.61 and a beta of 0.62. The company has a 50-day moving average of $80.28 and a 200-day moving average of $80.40. Southwest Gas Corporation has a 1-year low of $64.26 and a 1-year high of $86.65.

Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Southwest Gas Corporation had a net margin of 6.46% and a return on equity of 9.09%. The firm had revenue of $560.50 million during the quarter, compared to analyst estimates of $564.84 million. During the same quarter last year, the business posted $0.19 EPS. The company’s revenue was up 2.3% on a year-over-year basis.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Southwest Gas Corporation by 5,500.3% in the first quarter. BlackRock Inc. now owns 5,796,013 shares of the utilities provider’s stock valued at $480,546,000 after purchasing an additional 5,692,518 shares during the last quarter. Vanguard Group Inc. lifted its position in Southwest Gas Corporation by 19.0% in the first quarter. Vanguard Group Inc. now owns 5,332,229 shares of the utilities provider’s stock valued at $442,095,000 after purchasing an additional 849,583 shares during the last quarter. State Street Corp lifted its position in Southwest Gas Corporation by 3.6% in the second quarter. State Street Corp now owns 1,654,461 shares of the utilities provider’s stock valued at $120,875,000 after purchasing an additional 57,189 shares during the last quarter. Northern Trust Corp lifted its position in Southwest Gas Corporation by 1.8% in the second quarter. Northern Trust Corp now owns 1,444,315 shares of the utilities provider’s stock valued at $105,521,000 after purchasing an additional 26,071 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in Southwest Gas Corporation by 53.9% in the second quarter. Macquarie Group Ltd. now owns 1,353,810 shares of the utilities provider’s stock valued at $98,909,000 after purchasing an additional 474,320 shares during the last quarter. 76.85% of the stock is owned by institutional investors and hedge funds.

In other Southwest Gas Corporation news, SVP Karen S. Haller sold 1,300 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.95, for a total value of $105,235.00. Following the completion of the sale, the senior vice president now owns 26,639 shares of the company’s stock, valued at $2,156,427.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kenneth J. Kenny sold 600 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $80.90, for a total value of $48,540.00. Following the completion of the sale, the vice president now directly owns 17,137 shares of the company’s stock, valued at approximately $1,386,383.30. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.

About Southwest Gas Corporation

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).

Earnings History and Estimates for Southwest Gas Corporation (NYSE:SWX)

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