Southwest Gas (NYSE:SWX) Issues Earnings Results

Southwest Gas (NYSE:SWX) issued its quarterly earnings results on Wednesday. The utilities provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18, Zacks reports. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%.

Southwest Gas Trading Down 2.3 %

Shares of NYSE SWX traded down $1.77 during midday trading on Wednesday, reaching $75.51. 120,543 shares of the stock were exchanged, compared to its average volume of 342,872. The company has a 50 day simple moving average of $73.12 and a 200 day simple moving average of $73.63. The stock has a market capitalization of $5.42 billion, a P/E ratio of 30.45, a PEG ratio of 3.16 and a beta of 0.44. Southwest Gas has a twelve month low of $61.37 and a twelve month high of $80.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85.

Southwest Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, May 15th. Southwest Gas’s payout ratio is 100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Bank of America reiterated an “underperform” rating and set a $73.00 price target on shares of Southwest Gas in a research report on Friday, December 13th. Jefferies Financial Group began coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price target for the company. Finally, LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Southwest Gas has a consensus rating of “Hold” and a consensus price target of $73.80.

Southwest Gas Company Profile

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.