Southwest Gas Corp. (SWX) Shares Down 2.4%
Southwest Gas Corp. (NYSE:SWX) was down 2.4% during mid-day trading on Friday . The company traded as low as $70.26 and last traded at $70.36, with a volume of 108,356 shares. The stock had previously closed at $72.12.
A number of equities research analysts have issued reports on SWX shares. Zacks Investment Research upgraded shares of Southwest Gas Corp. from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Thursday, April 28th. Argus downgraded shares of Southwest Gas Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Citigroup Inc. increased their target price on shares of Southwest Gas Corp. from $62.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Finally, Jefferies Group cut shares of Southwest Gas Corp. from a “hold” rating to an “underperform” rating and set a $64.00 target price for the company. in a report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Southwest Gas Corp. currently has an average rating of “Hold” and an average price target of $71.25.
The company has a market capitalization of $3.34 billion and a PE ratio of 22.98. The company has a 50-day moving average price of $75.31 and a 200-day moving average price of $69.21.
Southwest Gas Corp. (NYSE:SWX) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm earned $547.70 million during the quarter, compared to the consensus estimate of $559.21 million. The company’s revenue was up 1.7% on a year-over-year basis. Equities analysts forecast that Southwest Gas Corp. will post $3.15 EPS for the current fiscal year.
In related news, SVP Eric Debonis sold 600 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $72.99, for a total value of $43,794.00. Following the sale, the senior vice president now directly owns 19,694 shares in the company, valued at approximately $1,437,465.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kenneth J. Kenny sold 500 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $72.70, for a total value of $36,350.00. Following the completion of the sale, the vice president now owns 16,787 shares in the company, valued at $1,220,414.90. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Southwest Gas Corp. stock. New York State Common Retirement Fund boosted its position in shares of Southwest Gas Corp. (NYSE:SWX) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 43,800 shares of the company’s stock after buying an additional 1,000 shares during the period. New York State Common Retirement Fund owned about 0.09% of Southwest Gas Corp. worth $2,416,000 as of its most recent filing with the SEC.
Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc, (Centuri).
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