Great West Life Assurance Co. Can reduced its stake in shares of Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) by 17.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,694 shares of the utilities provider’s stock after selling 14,004 shares during the period. Great West Life Assurance Co. Can owned approximately 0.10% of Southwest Gas worth $4,718,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Ronald Blue Trust Inc. purchased a new stake in shares of Southwest Gas in the 2nd quarter worth about $35,000. TCI Wealth Advisors Inc. boosted its position in shares of Southwest Gas by 95.9% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 521 shares of the utilities provider’s stock worth $45,000 after buying an additional 255 shares in the last quarter. Assetmark Inc. boosted its position in shares of Southwest Gas by 143.0% in the 2nd quarter. Assetmark Inc. now owns 627 shares of the utilities provider’s stock worth $55,000 after buying an additional 369 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Southwest Gas in the 2nd quarter worth about $108,000. Finally, CWM LLC boosted its position in shares of Southwest Gas by 12.8% in the 3rd quarter. CWM LLC now owns 1,935 shares of the utilities provider’s stock worth $135,000 after buying an additional 220 shares in the last quarter. 87.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on SWX shares. StockNews.com raised shares of Southwest Gas from a “sell” rating to a “hold” rating in a research note on Thursday. TheStreet downgraded shares of Southwest Gas from a “b-” rating to a “c+” rating in a research note on Thursday, December 15th. Wells Fargo & Company upped their price objective on shares of Southwest Gas from $66.00 to $73.00 in a research note on Wednesday, December 14th. Finally, Bank of America downgraded shares of Southwest Gas from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $87.00 to $65.00 in a research note on Wednesday, November 30th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.33.
Southwest Gas Stock Down 0.1 %
Southwest Gas (NYSE:SWX – Get Rating) last posted its earnings results on Wednesday, November 9th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.33). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Southwest Gas had a return on equity of 6.51% and a net margin of 3.18%. Sell-side analysts expect that Southwest Gas Holdings, Inc. will post 3.28 earnings per share for the current year.
Southwest Gas Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Tuesday, February 14th. Southwest Gas’s dividend payout ratio (DPR) is presently 101.22%.
Southwest Gas Profile
Southwest Gas Holdings, Inc engages in the energy business. It operates through the following business segments: Natural Gas Operations and Utility Infrastructure Services. The Natural Gas Operations segment focuses on purchasing, distribution, and transportation of natural gas in Arizona, California, and Nevada.
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