Prudential Financial Inc. trimmed its holdings in shares of Southwest Gas Corporation (NYSE:SWX) by 16.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 391,806 shares of the utilities provider’s stock after selling 77,844 shares during the quarter. Prudential Financial Inc. owned 0.82% of Southwest Gas Corporation worth $30,412,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp increased its position in shares of Southwest Gas Corporation by 3.6% during the second quarter. State Street Corp now owns 1,654,461 shares of the utilities provider’s stock valued at $120,875,000 after acquiring an additional 57,189 shares during the last quarter. Northern Trust Corp increased its position in shares of Southwest Gas Corporation by 1.8% during the second quarter. Northern Trust Corp now owns 1,444,315 shares of the utilities provider’s stock valued at $105,521,000 after acquiring an additional 26,071 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Southwest Gas Corporation by 53.9% during 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 period. FMR LLC grew its holdings in Southwest Gas Corporation by 13.0% during the second quarter. FMR LLC now owns 890,233 shares of the utilities provider’s stock valued at $65,040,000 after purchasing an additional 102,527 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Southwest Gas Corporation by 12.7% during the second quarter. JPMorgan Chase & Co. now owns 819,202 shares of the utilities provider’s stock valued at $64,808,000 after purchasing an additional 92,559 shares during the period. 75.65% of the stock is owned by institutional investors.
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Several brokerages have weighed in on SWX. UBS AG increased their price objective on Southwest Gas Corporation from $83.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, November 8th. raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. lowered Southwest Gas Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price objective on shares of Southwest Gas Corporation in a report on Monday, October 16th. Finally, KeyCorp reissued a “hold” rating on shares of Southwest Gas Corporation in a report on Friday, October 20th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $81.00.
Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings results on Tuesday, November 7th. The utilities provider reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $579.40 million. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. research analysts anticipate that Southwest Gas Corporation will post 3.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.39%. Southwest Gas Corporation’s dividend payout ratio is 58.24%.
Southwest Gas Corporation 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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