Magellan Asset Management Ltd Makes New $6.83 Million Investment in Southwest Gas Corporation $SWX

Magellan Asset Management Ltd purchased a new position in shares of Southwest Gas Corporation (NYSE:SWX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 77,010 shares of the utilities provider’s stock, valued at approximately $6,829,000.

A number of other institutional investors have also modified their holdings of the company. Bell Investment Advisors Inc acquired a new position in Southwest Gas during the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC grew its position in Southwest Gas by 223.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 440 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 304 shares in the last quarter. Kingdom Financial Group LLC. purchased a new stake in Southwest Gas during the fourth quarter worth about $56,000. Harbour Investments Inc. lifted its holdings in Southwest Gas by 301.0% during the 4th quarter. Harbour Investments Inc. now owns 834 shares of the utilities provider’s stock worth $67,000 after buying an additional 626 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Southwest Gas by 21.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 939 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 165 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SWX has been the subject of several research reports. Citigroup lifted their price objective on Southwest Gas from $99.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on shares of Southwest Gas from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen downgraded Southwest Gas from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Mizuho set a $103.00 price target on shares of Southwest Gas in a report on Wednesday, August 5th. Finally, UBS Group set a $100.00 price objective on shares of Southwest Gas in a report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.29.

Southwest Gas Trading Up 0.1%

SWX stock opened at $88.98 on Monday. Southwest Gas Corporation has a 1-year low of $76.17 and a 1-year high of $94.46. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $90.68 and its 200-day moving average is $89.09. The firm has a market cap of $6.45 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.11 and a beta of 0.57.

Southwest Gas (NYSE:SWX) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $358.15 million for the quarter, compared to analyst estimates of $416.20 million. Southwest Gas had a net margin of 31.85% and a return on equity of 6.91%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. Equities analysts anticipate that Southwest Gas Corporation will post 4.25 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.645 per share. This represents a $2.58 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 17th. Southwest Gas’s dividend payout ratio is currently 33.68%.

Southwest Gas Company Profile

Southwest Gas Corporation (NYSE: SWX) is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company’s core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation’s larger natural gas utilities by customer count.