Sierra Summit Advisors LLC Takes $986,000 Position in Southwest Gas Corporation $SWX

Sierra Summit Advisors LLC purchased a new position in shares of Southwest Gas Corporation (NYSE:SWX) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 11,345 shares of the utilities provider’s stock, valued at approximately $986,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in shares of Southwest Gas in the fourth quarter worth $66,930,000. BROOKFIELD Corp ON bought a new position in Southwest Gas during the 4th quarter valued at $27,052,000. Victory Capital Management Inc. grew its holdings in Southwest Gas by 176.3% during the 3rd quarter. Victory Capital Management Inc. now owns 501,748 shares of the utilities provider’s stock worth $39,307,000 after acquiring an additional 320,145 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Southwest Gas by 16.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,648,496 shares of the utilities provider’s stock worth $131,913,000 after acquiring an additional 228,496 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Southwest Gas in the 3rd quarter worth about $16,200,000. Institutional investors own 92.77% of the company’s stock.

Wall Street Analysts Forecast Growth

SWX has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of Southwest Gas from $99.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. UBS Group set a $100.00 price target on Southwest Gas in a research note on Thursday, May 7th. Wells Fargo & Company assumed coverage on Southwest Gas in a report on Monday, May 11th. They issued an “overweight” rating and a $105.00 price objective for the company. Mizuho upped their price objective on Southwest Gas from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings raised Southwest Gas from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $97.29.

Southwest Gas Stock Up 1.2%

SWX stock opened at $89.54 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.45 and a quick ratio of 1.32. Southwest Gas Corporation has a 1-year low of $72.43 and a 1-year high of $94.43. The firm has a fifty day moving average price of $89.06 and a two-hundred day moving average price of $86.73. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.10 and a beta of 0.58.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.03. Southwest Gas had a net margin of 19.95% and a return on equity of 6.95%. The company had revenue of $585.12 million for the quarter, compared to the consensus estimate of $695.52 million. During the same period last year, the firm posted $1.58 EPS. The company’s revenue for the quarter was down 21.6% on a year-over-year basis. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. Research analysts predict that Southwest Gas Corporation will post 4.25 EPS for the current year.

Southwest Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.645 per share. This represents a $2.58 annualized dividend and a dividend yield of 2.9%. This is a boost from Southwest Gas’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, May 15th. Southwest Gas’s dividend payout ratio is currently 37.39%.

Southwest Gas 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.