BidaskClub Downgrades Southwest Gas Corporation (SWX) to Strong Sell

Southwest Gas Corporation (NYSE:SWX) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, March 23rd. Jefferies Group LLC reiterated a “sell” rating and issued a $68.00 price target on shares of Southwest Gas Corporation in a research report on Tuesday, May 9th. Finally, Bank of America Corporation cut shares of Southwest Gas Corporation from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Monday, March 6th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $80.75.

Shares of Southwest Gas Corporation (NYSE SWX) traded up 0.15% during trading on Tuesday, reaching $73.47. 227,459 shares of the company’s stock were exchanged. Southwest Gas Corporation has a 52 week low of $64.26 and a 52 week high of $86.65. The company’s 50-day moving average is $79.13 and its 200 day moving average is $80.48. The stock has a market capitalization of $3.49 billion, a PE ratio of 24.07 and a beta of 0.58.

Southwest Gas Corporation (NYSE:SWX) last issued its quarterly earnings data on Monday, May 8th. The utilities provider reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by $0.18. Southwest Gas Corporation had a net margin of 6.12% and a return on equity of 8.65%. The company had revenue of $654.74 million for the quarter, compared to the consensus estimate of $741.80 million. During the same quarter in the prior year, the firm earned $1.58 earnings per share. Southwest Gas Corporation’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts forecast that Southwest Gas Corporation will post $3.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, August 11th. Southwest Gas Corporation’s dividend payout ratio (DPR) is presently 64.71%.

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In other Southwest Gas Corporation news, SVP Eric Debonis sold 350 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $80.02, for a total value of $28,007.00. Following the sale, the senior vice president now directly owns 20,057 shares in the company, valued at $1,604,961.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.34% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of SWX. YorkBridge Wealth Partners LLC increased its stake in Southwest Gas Corporation by 14.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,268 shares of the utilities provider’s stock valued at $106,000 after buying an additional 160 shares during the last quarter. Flinton Capital Management LLC bought a new stake in Southwest Gas Corporation during the fourth quarter valued at about $114,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Southwest Gas Corporation by 6.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,575 shares of the utilities provider’s stock valued at $120,000 after buying an additional 98 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Southwest Gas Corporation by 17.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,350 shares of the utilities provider’s stock valued at $180,000 after buying an additional 352 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in Southwest Gas Corporation during the first quarter valued at about $205,000. Hedge funds and other institutional investors own 77.88% of the company’s stock.

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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