Southwest Gas (NYSE:SWX) Stock Rated “Sector Outperform” in New Coverage at Scotiabank

Analysts at Scotiabank began coverage on shares of Southwest Gas (NYSE:SWX) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “sector outperform” rating and a $95.00 price target on the utilities provider’s stock. Scotiabank’s target price indicates a potential upside of 16.19% from the stock’s previous close.

SWX has been the subject of a number of other reports. Weiss Ratings lowered shares of Southwest Gas from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, September 14th. Mizuho set a $103.00 price target on Southwest Gas in a report on Wednesday, August 5th. Wells Fargo & Company increased their price objective on Southwest Gas from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Southwest Gas from a “sell” rating to a “hold” rating in a research report on Saturday. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.83.

Southwest Gas Trading Down 0.8%

NYSE:SWX opened at $81.77 on Tuesday. The company has a fifty day moving average of $89.06 and a 200 day moving average of $89.12. Southwest Gas has a 52 week low of $76.74 and a 52 week high of $94.46. The company has a quick ratio of 0.99, a current ratio of 1.12 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $5.92 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.96 and a beta of 0.57.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. Southwest Gas had a net margin of 31.85% and a return on equity of 6.79%. The business had revenue of $358.15 million for the quarter, compared to analyst estimates of $416.20 million. During the same quarter last year, the firm earned ($0.18) EPS. The company’s revenue was down 9.6% on a year-over-year basis. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, research analysts predict that Southwest Gas will post 4.26 earnings per share for the current year.

Hedge Funds Weigh In On Southwest Gas

A number of institutional investors and hedge funds have recently made changes to their positions in SWX. Bell Investment Advisors Inc bought a new stake in Southwest Gas in the second quarter worth $28,000. Harbour Investments Inc. increased its holdings in shares of Southwest Gas by 301.0% during the fourth quarter. Harbour Investments Inc. now owns 834 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 626 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Southwest Gas by 107.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,099 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 569 shares during the last quarter. IFP Advisors Inc boosted its stake in Southwest Gas by 137.6% in the 2nd quarter. IFP Advisors Inc now owns 1,212 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 702 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Southwest Gas in the 1st quarter worth about $163,000. Institutional investors own 92.77% of the company’s stock.

About Southwest Gas

Southwest Gas Holdings, Inc is a regulated energy company that provides natural gas distribution services through its subsidiary, Southwest Gas Corporation. The utility delivers natural gas to residential, commercial and industrial customers, primarily in Arizona, Nevada and portions of California, serving communities across the desert Southwest.

The company’s utility operations include the acquisition, transportation and distribution of natural gas through a network of pipelines and related infrastructure.