Southwest Gas (NYSE:SWX) Cut to “Sell” at StockNews.com

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

Separately, Wells Fargo & Company reduced their price target on Southwest Gas from $77.00 to $66.00 and set an “equal weight” rating for the company in a report on Thursday, November 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Southwest Gas currently has an average rating of “Hold” and a consensus target price of $84.67.

Southwest Gas Trading Up 2.5 %

Shares of Southwest Gas stock opened at $68.46 on Tuesday. The firm has a 50-day simple moving average of $71.38 and a two-hundred day simple moving average of $80.64. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.30 and a current ratio of 1.30. Southwest Gas has a fifty-two week low of $62.60 and a fifty-two week high of $95.62. The company has a market cap of $4.59 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 3.51 and a beta of 0.23.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Icahn Carl C increased its stake in Southwest Gas by 76.1% during the 2nd quarter. Icahn Carl C now owns 5,103,121 shares of the utilities provider’s stock worth $444,380,000 after buying an additional 2,204,445 shares in the last quarter. BlackRock Inc. raised its stake in Southwest Gas by 9.2% in 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. boosted its stake in Southwest Gas by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 6,646,936 shares of the utilities provider’s stock worth $520,388,000 after purchasing an additional 690,696 shares during the last quarter. TIG Advisors LLC purchased a new stake in shares of Southwest Gas during the second quarter worth $43,214,000. Finally, Millennium Management LLC grew its holdings in shares of Southwest Gas by 441.3% during the second quarter. Millennium Management LLC now owns 491,622 shares of the utilities provider’s stock worth $42,810,000 after buying an additional 400,804 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Southwest Gas Company Profile

(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.

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