Rikoon Group LLC Invests $200,000 in Southwest Gas Holdings Inc (NYSE:SWX)

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Rikoon Group LLC purchased a new position in Southwest Gas Holdings Inc (NYSE:SWX) in the third quarter, HoldingsChannel reports. The firm purchased 2,200 shares of the utilities provider’s stock, valued at approximately $200,000.

Other large investors also recently modified their holdings of the company. TCI Wealth Advisors Inc. lifted its stake in shares of Southwest Gas by 39.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 407 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 115 shares during the period. NEXT Financial Group Inc acquired a new stake in shares of Southwest Gas in the 2nd quarter worth approximately $47,000. Point72 Asset Management L.P. acquired a new stake in shares of Southwest Gas in the 2nd quarter worth approximately $54,000. Krane Funds Advisors LLC acquired a new stake in shares of Southwest Gas in the 2nd quarter worth approximately $60,000. Finally, Tower Research Capital LLC TRC lifted its stake in Southwest Gas by 6,708.3% during the second quarter. Tower Research Capital LLC TRC now owns 817 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 805 shares during the last quarter. 83.30% of the stock is owned by institutional investors.

In other news, VP Kenneth J. Kenny sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $90.26, for a total transaction of $45,130.00. Following the sale, the vice president now owns 16,121 shares in the company, valued at $1,455,081.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by insiders.

SWX stock traded down $1.64 on Friday, hitting $78.09. 384,894 shares of the company’s stock traded hands, compared to its average volume of 249,910. Southwest Gas Holdings Inc has a 1-year low of $72.68 and a 1-year high of $92.94. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.92 and a beta of 0.22. The stock has a fifty day moving average of $88.85 and a 200-day moving average of $88.16. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.98.

Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.16). Southwest Gas had a net margin of 6.61% and a return on equity of 8.86%. The firm had revenue of $725.23 million for the quarter, compared to analyst estimates of $229.10 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Southwest Gas Holdings Inc will post 4.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.79%. Southwest Gas’s dividend payout ratio is currently 59.24%.

Several analysts recently commented on SWX shares. JPMorgan Chase & Co. started coverage on shares of Southwest Gas in a research note on Wednesday, July 17th. They set an “overweight” rating and a $93.00 target price for the company. ValuEngine lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. Wells Fargo & Co set a $93.00 target price on shares of Southwest Gas and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Finally, UBS Group set a $91.00 target price on shares of Southwest Gas and gave the company a “hold” rating in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $94.60.

About Southwest Gas

Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.

Further Reading: Initial Coin Offerings entail a high degree of risk

Want to see what other hedge funds are holding SWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Gas Holdings Inc (NYSE:SWX).

Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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