Southwest Gas Corporation Forecasted to Post FY2020 Earnings of $4.00 Per Share (SWX)
Southwest Gas Corporation (NYSE:SWX) – Investment analysts at Gabelli issued their FY2020 EPS estimates for Southwest Gas Corporation in a research note issued on Friday. Gabelli analyst T. Winter expects that the utilities provider will post earnings of $4.00 per share for the year. Gabelli also issued estimates for Southwest Gas Corporation’s FY2021 earnings at $4.20 EPS.
Southwest Gas Corporation (NYSE:SWX) last issued its quarterly earnings results on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. Southwest Gas Corporation had a return on equity of 9.56% and a net margin of 6.64%. The firm had revenue of $593.15 million for the quarter, compared to analyst estimates of $579.40 million. During the same period last year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This report was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://theolympiareport.com/2017/11/15/southwest-gas-corporation-forecasted-to-post-fy2020-earnings-of-4-00-per-share-swx.html.
SWX has been the topic of a number of other reports. Jefferies Group LLC reissued a “hold” rating and issued a $70.00 price target on shares of Southwest Gas Corporation in a research note on Monday, October 16th. KeyCorp reaffirmed a “hold” rating on shares of Southwest Gas Corporation in a research note on Friday, September 1st. UBS AG lifted their price objective on Southwest Gas Corporation from $83.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, BidaskClub lowered Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Southwest Gas Corporation has an average rating of “Hold” and a consensus target price of $81.00.
Shares of Southwest Gas Corporation (SWX) traded up $3.02 during trading hours on Monday, reaching $82.70. The company’s stock had a trading volume of 295,100 shares, compared to its average volume of 263,755. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.01. Southwest Gas Corporation has a 12-month low of $71.51 and a 12-month high of $86.65. The firm has a market cap of $3,803.27, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 3.61 and a beta of 0.61.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWX. State Street Corp raised its holdings in shares of Southwest Gas Corporation by 3.6% during the 2nd quarter. State Street Corp now owns 1,654,461 shares of the utilities provider’s stock valued at $120,875,000 after buying an additional 57,189 shares during the period. Tributary Capital Management LLC raised its holdings in shares of Southwest Gas Corporation by 8.2% during the 3rd quarter. Tributary Capital Management LLC now owns 21,000 shares of the utilities provider’s stock valued at $1,630,000 after buying an additional 1,600 shares during the period. Prudential Financial Inc. raised its holdings in shares of Southwest Gas Corporation by 25.6% during the 2nd quarter. Prudential Financial Inc. now owns 469,650 shares of the utilities provider’s stock valued at $34,313,000 after buying an additional 95,800 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Southwest Gas Corporation by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 662,770 shares of the utilities provider’s stock valued at $48,423,000 after buying an additional 4,801 shares during the period. Finally, Shell Asset Management Co. raised its holdings in shares of Southwest Gas Corporation by 25.1% during the 3rd quarter. Shell Asset Management Co. now owns 58,915 shares of the utilities provider’s stock valued at $2,862,000 after buying an additional 11,816 shares during the period. 75.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Kenneth J. Kenny sold 600 shares of Southwest Gas Corporation stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $80.17, for a total value of $48,102.00. Following the transaction, the vice president now directly owns 16,746 shares of the company’s stock, valued at approximately $1,342,526.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.99% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.39%. Southwest Gas Corporation’s dividend payout ratio is currently 58.24%.
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).
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