StockNews.com Lowers Southwest Gas (NYSE:SWX) to Sell

Southwest Gas (NYSE:SWXGet Rating) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other analysts have also recently commented on the company. Wells Fargo & Company reduced their target price on Southwest Gas from $101.00 to $86.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 10th. Argus upgraded Southwest Gas from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Thursday, June 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Southwest Gas currently has an average rating of “Hold” and a consensus price target of $91.33.

Southwest Gas Stock Up 0.7 %

Shares of NYSE SWX opened at $81.78 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.33. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 3.93 and a beta of 0.16. Southwest Gas has a 12 month low of $62.58 and a 12 month high of $95.62. The stock has a 50-day moving average price of $81.47 and a two-hundred day moving average price of $84.11.

Institutional Investors Weigh In On Southwest Gas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Southwest Gas by 9.2% during the 1st quarter. BlackRock Inc. now owns 10,140,343 shares of the utilities provider’s stock valued at $793,886,000 after purchasing an additional 857,178 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Southwest Gas by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 6,646,936 shares of the utilities provider’s stock valued at $520,388,000 after purchasing an additional 690,696 shares during the last quarter. Icahn Carl C increased its position in shares of Southwest Gas by 76.1% during the 2nd quarter. Icahn Carl C now owns 5,103,121 shares of the utilities provider’s stock valued at $444,380,000 after purchasing an additional 2,204,445 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Southwest Gas by 17.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,609,763 shares of the utilities provider’s stock valued at $204,318,000 after purchasing an additional 378,480 shares during the last quarter. Finally, State Street Corp increased its position in shares of Southwest Gas by 6.4% during the 2nd quarter. State Street Corp now owns 2,139,232 shares of the utilities provider’s stock valued at $186,284,000 after purchasing an additional 129,214 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

About Southwest Gas

(Get Rating)

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.

Read More

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.