Brookfield Asset Management Inc. trimmed its stake in Southwest Gas Holdings Inc (NYSE:SWX) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 636,900 shares of the utilities provider’s stock after selling 60,500 shares during the quarter. Brookfield Asset Management Inc. owned 1.33% of Southwest Gas worth $51,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also modified their holdings of the company. Macquarie Group Ltd. boosted its stake in Southwest Gas by 8.6% during the fourth quarter. Macquarie Group Ltd. now owns 1,730,377 shares of the utilities provider’s stock worth $131,163,000 after buying an additional 136,574 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Southwest Gas by 68.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,123,671 shares of the utilities provider’s stock valued at $90,433,000 after purchasing an additional 454,848 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Southwest Gas by 1.2% in the 4th quarter. Victory Capital Management Inc. now owns 498,028 shares of the utilities provider’s stock valued at $40,081,000 after purchasing an additional 5,675 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Southwest Gas by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 435,840 shares of the utilities provider’s stock valued at $35,076,000 after purchasing an additional 5,772 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Southwest Gas by 5.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 298,371 shares of the utilities provider’s stock valued at $24,013,000 after purchasing an additional 15,155 shares in the last quarter. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
In other Southwest Gas news, SVP Eric Debonis sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $63.43, for a total transaction of $88,802.00. Following the completion of the transaction, the senior vice president now owns 14,229 shares of the company’s stock, valued at approximately $902,545.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.99% of the company’s stock.
Several brokerages have recently commented on SWX. Jefferies Group restated a “hold” rating and issued a $69.00 target price on shares of Southwest Gas in a research note on Wednesday, March 28th. Williams Capital initiated coverage on Southwest Gas in a report on Tuesday. They issued a “hold” rating and a $73.00 price target for the company. Zacks Investment Research cut Southwest Gas from a “buy” rating to a “hold” rating in a report on Friday, January 12th. UBS reissued a “buy” rating and set a $89.00 price objective (down from $93.00) on shares of Southwest Gas in a report on Friday, March 2nd. Finally, Citigroup dropped their price objective on Southwest Gas from $82.00 to $73.00 and set a “neutral” rating for the company in a report on Tuesday, March 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.00.
Shares of SWX traded down $0.68 on Thursday, hitting $68.61. The company’s stock had a trading volume of 210,361 shares, compared to its average volume of 235,178. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. Southwest Gas Holdings Inc has a fifty-two week low of $62.53 and a fifty-two week high of $86.87. The firm has a market capitalization of $3,347.54, a PE ratio of 18.95 and a beta of 0.53.
Southwest Gas (NYSE:SWX) last issued its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.08. Southwest Gas had a return on equity of 10.00% and a net margin of 7.61%. The business had revenue of $740.43 million during the quarter, compared to analyst estimates of $705.70 million. equities research analysts predict that Southwest Gas Holdings Inc will post 3.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $2.08 dividend on an annualized basis and a yield of 3.03%. This is an increase from Southwest Gas’s previous quarterly dividend of $0.50. Southwest Gas’s dividend payout ratio is 54.70%.
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Southwest Gas Profile
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Operations and Construction Services segments. As of December 31, 2017, it had 2,015,000 residential, commercial, industrial, and other natural gas customers.
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