California Public Employees Retirement System boosted its holdings in shares of Southwest Gas Holdings Inc (NYSE:SWX) by 46.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,309 shares of the utilities provider’s stock after purchasing an additional 38,782 shares during the period. California Public Employees Retirement System owned about 0.23% of Southwest Gas worth $11,135,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in 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 valued at $36,000 after acquiring an additional 115 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in Southwest Gas in the second quarter valued at $47,000. Point72 Asset Management L.P. acquired a new stake in Southwest Gas in the second quarter valued at $54,000. Krane Funds Advisors LLC acquired a new stake in Southwest Gas in the second quarter valued at $60,000. Finally, Tower Research Capital LLC TRC increased its holdings in Southwest Gas by 6,708.3% in 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 period. Hedge funds and other institutional investors own 82.53% of the company’s stock.
In related news, Director Robert L. Boughner purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $76.49 per share, with a total value of $382,450.00. Following the acquisition, the director now owns 38,429 shares of the company’s stock, valued at approximately $2,939,434.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 5,450 shares of company stock worth $416,561 in the last ninety days. 0.83% of the stock is currently owned by insiders.
A number of analysts recently weighed in on SWX shares. Zacks Investment Research downgraded Southwest Gas from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. Wells Fargo & Co set a $93.00 price objective on Southwest Gas and gave the company a “hold” rating in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Southwest Gas has a consensus rating of “Hold” and a consensus target price of $94.60.
Shares of Southwest Gas stock traded down $0.61 during mid-day trading on Wednesday, hitting $75.17. 247,218 shares of the stock were exchanged, compared to its average volume of 251,454. Southwest Gas Holdings Inc has a 12 month low of $72.68 and a 12 month high of $92.94. The company has a 50-day simple moving average of $81.96 and a 200 day simple moving average of $87.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $4.14 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.41 and a beta of 0.18.
Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). The company had revenue of $725.23 million during the quarter, compared to the consensus estimate of $229.10 million. Southwest Gas had a return on equity of 8.11% and a net margin of 6.26%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. Analysts predict that Southwest Gas Holdings Inc will post 3.7 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 18th will be issued a $0.545 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.90%. Southwest Gas’s dividend payout ratio (DPR) is presently 59.24%.
Southwest Gas Company Profile
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.
Recommended Story: The risks of owning bonds
Receive News & Ratings for Southwest Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas and related companies with MarketBeat.com's FREE daily email newsletter.