FY2017 Earnings Forecast for Southwest Gas Corp. Issued By Jefferies Group (SWX)
Southwest Gas Corp. (NYSE:SWX) – Analysts at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for shares of Southwest Gas Corp. in a research note issued to investors on Thursday. Jefferies Group analyst C. Sighinolfi now expects that the brokerage will earn $3.53 per share for the year, up from their previous forecast of $3.52. Jefferies Group has a “Hold” rating and a $65.00 price objective on the stock.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Southwest Gas Corp. from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. upped their price objective 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, Argus reiterated a “hold” rating on shares of Southwest Gas Corp. in a report on Thursday, September 8th. Five analysts have rated the stock with a hold rating, Southwest Gas Corp. has an average rating of “Hold” and a consensus price target of $71.50.
Shares of Southwest Gas Corp. (NYSE:SWX) traded up 0.15% during trading on Monday, reaching $68.00. The company’s stock had a trading volume of 43,222 shares. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 22.21 and a beta of 0.54. The company’s 50-day moving average price is $69.33 and its 200 day moving average price is $71.01. Southwest Gas Corp. has a 1-year low of $50.53 and a 1-year high of $79.58.
Southwest Gas Corp. (NYSE:SWX) last issued its earnings results on Monday, August 8th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Southwest Gas Corp. had a return on equity of 9.07% and a net margin of 5.90%. The company earned $547.70 million during the quarter, compared to the consensus estimate of $559.21 million. During the same period in the previous year, the firm posted $0.13 earnings per share. Southwest Gas Corp.’s quarterly revenue was up 1.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. raised its position in shares of Southwest Gas Corp. by 15.7% in the third quarter. Hennessy Advisors Inc. now owns 376,817 shares of the company’s stock worth $26,324,000 after buying an additional 51,000 shares in the last quarter. Creative Planning raised its position in shares of Southwest Gas Corp. by 12.8% in the third quarter. Creative Planning now owns 5,942 shares of the company’s stock worth $415,000 after buying an additional 674 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in shares of Southwest Gas Corp. during the third quarter worth approximately $1,141,000. First Mercantile Trust Co. bought a new position in shares of Southwest Gas Corp. during the third quarter worth approximately $275,000. Finally, Eqis Capital Management Inc. raised its position in shares of Southwest Gas Corp. by 19.1% in the third quarter. Eqis Capital Management Inc. now owns 5,779 shares of the company’s stock worth $404,000 after buying an additional 926 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Eric Debonis sold 600 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $72.99, for a total transaction of $43,794.00. Following the completion of the transaction, the senior vice president now owns 19,694 shares of the company’s stock, valued at $1,437,465.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Roy R. Centrella sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $71.54, for a total transaction of $71,540.00. Following the transaction, the chief financial officer now directly owns 31,618 shares of the company’s stock, valued at approximately $2,261,951.72. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, November 10th. Southwest Gas Corp.’s dividend payout ratio (DPR) is 59.02%.
Southwest Gas Corp. Company Profile
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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