Jefferies Group LLC restated their hold rating on shares of Southwest Gas Corporation (NYSE:SWX) in a research report sent to investors on Monday. The firm currently has a $70.00 price target on the utilities provider’s stock.

Several other brokerages have also recently commented on SWX. BidaskClub raised shares of Southwest Gas Corporation from a sell rating to a hold rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Southwest Gas Corporation from a sell rating to a hold rating in a research report on Wednesday, August 16th. Finally, KeyCorp reaffirmed a hold rating on shares of Southwest Gas Corporation in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of Hold and an average price target of $78.00.

Shares of Southwest Gas Corporation (NYSE SWX) opened at 79.83 on Monday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 24.72 and a beta of 0.60. The firm’s 50-day moving average price is $79.01 and its 200-day moving average price is $79.48. Southwest Gas Corporation has a 12-month low of $69.02 and a 12-month high of $86.65.

Southwest Gas Corporation (NYSE:SWX) last issued its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $560.50 million during the quarter, compared to analysts’ expectations of $564.84 million. During the same quarter last year, the company posted $0.19 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that Southwest Gas Corporation will post $3.44 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.98 annualized dividend and a dividend yield of 2.48%. Southwest Gas Corporation’s dividend payout ratio (DPR) is currently 61.11%.

In other news, VP Kenneth J. Kenny sold 600 shares of Southwest Gas Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $80.90, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Karen S. Haller sold 1,300 shares of Southwest Gas Corporation stock in a transaction on Friday, August 11th. The stock was sold at an average price of $80.95, for a total transaction of $105,235.00. Following the sale, the senior vice president now directly owns 26,639 shares of the company’s stock, valued at $2,156,427.05. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in SWX. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Southwest Gas Corporation by 7.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,725 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 118 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of Southwest Gas Corporation by 69.7% during the 2nd quarter. Flinton Capital Management LLC now owns 2,416 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 992 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of Southwest Gas Corporation by 74.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the utilities provider’s stock worth $204,000 after purchasing an additional 1,197 shares during the last quarter. GW&K Investment Management LLC purchased a new stake in shares of Southwest Gas Corporation during the 2nd quarter worth $205,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Southwest Gas Corporation during the 2nd quarter worth $213,000. 76.81% of the stock is owned by institutional investors and hedge funds.

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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