Southwest Gas (NYSE:SWX) Issues Quarterly Earnings Results

Southwest Gas (NYSE:SWX) announced its quarterly earnings results on Wednesday. The utilities provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.33), Briefing.com reports. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.38 billion. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.69 earnings per share.

Southwest Gas Trading Up 0.8 %

NYSE:SWX traded up $0.61 during mid-day trading on Thursday, reaching $76.40. 144,542 shares of the company’s stock traded hands, compared to its average volume of 455,571. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 3.63 and a beta of 0.36. Southwest Gas has a 12-month low of $55.13 and a 12-month high of $76.75. The company has a 50 day moving average price of $73.58 and a 200-day moving average price of $65.29. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.12 and a quick ratio of 1.12.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, August 15th. Southwest Gas’s dividend payout ratio (DPR) is presently 116.98%.

Analysts Set New Price Targets

Separately, Citigroup boosted their price objective on Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th.

About Southwest Gas

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.