TD Asset Management Inc. raised its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) by 51.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 132,926 shares of the utilities provider’s stock after buying an additional 45,306 shares during the period. TD Asset Management Inc.’s holdings in Southwest Gas were worth $9,311,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank N A MO bought a new position in shares of Southwest Gas in the fourth quarter worth $25,000. Benjamin Edwards Inc. bought a new stake in shares of Southwest Gas during the 4th quarter valued at $26,000. Huntington National Bank increased its holdings in shares of Southwest Gas by 76.1% in the 4th quarter. Huntington National Bank now owns 523 shares of the utilities provider’s stock worth $37,000 after buying an additional 226 shares during the last quarter. JJJ Advisors Inc. boosted its stake in shares of Southwest Gas by 41.9% during the 4th quarter. JJJ Advisors Inc. now owns 572 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 169 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Southwest Gas in the 4th quarter valued at about $114,000. Hedge funds and other institutional investors own 85.29% of the company’s stock.
A number of analysts recently issued reports on the stock. TheStreet raised shares of Southwest Gas from a “c+” rating to a “b-” rating in a report on Monday, April 4th. Wells Fargo & Company raised their price objective on shares of Southwest Gas from $84.00 to $101.00 in a report on Tuesday, May 10th. Bank of America raised shares of Southwest Gas from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $81.00 to $88.00 in a research note on Wednesday, March 30th. Finally, StockNews.com lowered shares of Southwest Gas from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Southwest Gas currently has an average rating of “Hold” and a consensus price target of $89.00.
Southwest Gas (NYSE:SWX – Get Rating) last issued its quarterly earnings data on Tuesday, March 1st. The utilities provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.05. Southwest Gas had a return on equity of 7.62% and a net margin of 4.42%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the company posted $1.82 EPS. Equities analysts expect that Southwest Gas Holdings, Inc. will post 4.57 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $2.48 annualized dividend and a dividend yield of 2.66%. Southwest Gas’s dividend payout ratio (DPR) is 83.50%.
Southwest Gas Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Southwest Gas (SWX)
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