UBS Group Reaffirms Buy Rating for Southwest Gas (SWX)
Southwest Gas (NYSE:SWX)‘s stock had its “buy” rating reiterated by equities researchers at UBS Group in a research note issued on Friday, www.benzinga.com reports. They currently have a $89.00 price target on the utilities provider’s stock, down from their previous price target of $93.00. UBS Group’s price target would suggest a potential upside of 38.76% from the stock’s previous close.
A number of other research analysts have also commented on the company. Zacks Investment Research lowered Southwest Gas from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Citigroup upped their target price on Southwest Gas from $79.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $82.80.
Shares of Southwest Gas (SWX) traded down $1.23 during midday trading on Friday, hitting $64.14. The company had a trading volume of 649,678 shares, compared to its average volume of 205,877. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $3,060.00, a price-to-earnings ratio of 18.86 and a beta of 0.57. Southwest Gas has a twelve month low of $62.53 and a twelve month high of $86.87.
A number of large investors have recently made changes to their positions in SWX. First Trust Advisors LP grew its position in Southwest Gas by 46.8% in the third quarter. First Trust Advisors LP now owns 42,907 shares of the utilities provider’s stock valued at $3,330,000 after acquiring an additional 13,687 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Southwest Gas in the third quarter valued at $509,000. Victory Capital Management Inc. grew its position in Southwest Gas by 44.3% in the third quarter. Victory Capital Management Inc. now owns 492,353 shares of the utilities provider’s stock valued at $38,216,000 after acquiring an additional 151,106 shares during the period. Bessemer Group Inc. grew its position in Southwest Gas by 171.8% in the third quarter. Bessemer Group Inc. now owns 96,994 shares of the utilities provider’s stock valued at $7,529,000 after acquiring an additional 61,313 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in Southwest Gas in the third quarter valued at $238,000. Hedge funds and other institutional investors own 77.75% of the company’s stock.
About Southwest Gas
Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. 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).
Receive News & Ratings for Southwest Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Gas and related companies with MarketBeat.com's FREE daily email newsletter.