StockNews.com Upgrades Southwest Gas (NYSE:SWX) to Hold
recently issued reports on SWX. Southwest Gas was upgraded from a 'sell' rating to a 'hold' rating.
In a report released on Friday, the rating was changed from a "sell" to a "hold".
SWX has also been the subject of recent research by other firms. Wells Fargo & Company lowered its price target for Southwest Gas in a report published on Thursday, 2nd March from $71.00 down to $63.00. The company also assigned the stock an 'equal-weight' rating. Citigroup reduced their price target on shares of Southwest Gas in a report published on Thursday, June 1. Royal Bank of Canada, in a Monday, March 6th research note, reissued a 'underweight rating' and set a $95.00 price target (down from $100.00 previously) for shares of Southwest Gas. In a research report published on June 1st, 888 reiterated a rating of'maintains.' on Southwest Gas shares. Four analysts have given the stock a hold rating, while one has given the stock a sell. The price of the stock fell $0.35 at midday on Friday to reach $60.90. The company's average trading volume is 549,183 shares, but 1,293,401 of its shares were traded. The company's quick ratio is 1.40, its current ratio is 1.40, and its debt-to equity ratio is 1.39. Southwest Gas's 12-month low is $53.79, and its 12-month high is $89.97.
The last time ) announced its quarterly results was on May 9th. The utilities provider announced $1.69 in earnings per share for the quarter. This was $0.30 more than analysts' expectations of $1.39. The company had a revenue of $1.60billion for the quarter compared to a consensus estimate of $1.2billion. Southwest Gas posted a negative margin of 4.79%, and a positive equity return of 6.24%. Analysts expect Southwest Gas to post an average of 3.33 earnings per shares for the current fiscal year.
Southwest Gas: Insiders' Guide to Buying and selling
Carl C. Icahn, a major shareholder, purchased 70,683 Southwest Gas shares in a deal that took place on Monday, 22nd May. The shares were purchased at an average price of $57.91 each, for a total of $4,093,252.53. After the completion of the acquisition, the insider owns directly 10,591,283 company shares, valued at $613.341,198.53. Carl C. Icahn, a major shareholder of Southwest Gas, acquired 70,683 stock shares in the company on Monday, 22nd May. The shares were purchased at an average price per share of $57.91, for a total of $4,093,252.53. After the completion of this purchase, the insider owns 10,591,283 of the company's shares, valued at $613,341,198.53. Carl C. Icahn, a major shareholder, also bought 15,681 of the company's shares in a deal on Wednesday, 24th May. The shares were purchased at an average price of $57.98 each, for a total of $909,184.38. After the purchase, the insider owns 10,610 217 shares of stock in the company, worth approximately $615 180 381.66. Insiders bought 178 486 shares worth $10 507 269 in the last three month. Corporate insiders own 0.32%.
Institutional Trading of Southwest Gas
A number of hedge funds and institutional investors have bought and sold SWX shares recently. Newbridge Financial Services Group Inc. purchased a new stake in shares of Southwest Gas valued at $31,000 during the fourth quarter. Spirit of America Management Corp NY bought a stake in Southwest Gas shares during the first quarter worth about $31,000. Byrne Asset Management LLC increased its stake in Southwest Gas shares by 82.9% during the fourth quarter. Byrne Asset Management LLC owns 556 of the utilities provider stock, worth $34,000. It acquired an additional 252 during the period. International Assets Investment Management LLC purchased a new stake in Southwest Gas valued at about $34,000 during the first quarter. Accurate Wealth Management LLC bought a stake in Southwest Gas worth about $37,000 in the fourth-quarter. Institutional investors currently own 90.78%.
Southwest Gas Company Profile
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Southwest Gas Holdings, Inc., through its subsidiary companies, distributes and delivers natural gas to Arizona, Nevada, California, and other states. Natural Gas Distribution, Utility infrastructure services, and Pipeline and Storage are its three segments. The company provides maintenance services, including trenching, underground pipe installation and replacement, as well.
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