Southwest Gas (NYSE:SWX) Sets New 12-Month High – Should You Buy?

Southwest Gas Holdings, Inc. (NYSE:SWX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $78.94 and last traded at $78.59, with a volume of 4357 shares. The stock had previously closed at $73.63.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Southwest Gas Price Performance

The company has a market cap of $5.30 billion, a P/E ratio of 29.24, a PEG ratio of 3.83 and a beta of 0.38. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.58 and a quick ratio of 1.58. The company has a fifty day simple moving average of $73.08 and a 200-day simple moving average of $73.54.

Southwest Gas (NYSE:SWX) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Southwest Gas had a net margin of 3.44% and a return on equity of 6.18%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, sell-side analysts predict that Southwest Gas Holdings, Inc. will post 3.13 earnings per share for the current year.

Southwest Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, November 15th. Southwest Gas’s dividend payout ratio is 98.41%.

Insider Activity at Southwest Gas

In related news, CFO Robert J. Stefani sold 767 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $73.14, for a total transaction of $56,098.38. Following the transaction, the chief financial officer now directly owns 43,438 shares of the company’s stock, valued at approximately $3,177,055.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SWX. UMB Bank n.a. boosted its stake in shares of Southwest Gas by 67.2% during the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC boosted its stake in Southwest Gas by 154.8% during the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 260 shares during the period. Waldron Private Wealth LLC bought a new stake in Southwest Gas during the 3rd quarter valued at approximately $40,000. Blue Trust Inc. boosted its stake in Southwest Gas by 96.6% during the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 282 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Southwest Gas during the 2nd quarter valued at approximately $49,000. 92.77% of the stock is owned by institutional investors and hedge funds.

About Southwest Gas

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.