Southwest Gas (NYSE:SWX) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Southwest Gas (NYSE:SWX) released its quarterly earnings results on Wednesday. The utilities provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02, Briefing.com reports. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 6.18%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share.

Southwest Gas Price Performance

NYSE SWX traded down $0.62 on Thursday, reaching $73.03. The company’s stock had a trading volume of 93,826 shares, compared to its average volume of 379,101. Southwest Gas has a twelve month low of $57.03 and a twelve month high of $79.03. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market cap of $5.24 billion, a PE ratio of 29.23, a PEG ratio of 3.83 and a beta of 0.38. The firm’s 50 day moving average is $73.12 and its two-hundred day moving average is $73.54.

Southwest Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, November 15th. Southwest Gas’s payout ratio is 98.41%.

Insider Buying and Selling at Southwest Gas

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

Analyst Ratings Changes

Several research firms recently weighed in on SWX. Wells Fargo & Company upped their price objective on shares of Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price objective on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

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.