Allworth Financial LP Grows Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Allworth Financial LP raised its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 520.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,071 shares of the utilities provider’s stock after acquiring an additional 2,576 shares during the quarter. Allworth Financial LP’s holdings in Southwest Gas were worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fifth Third Bancorp lifted its holdings in Southwest Gas by 56.1% during the third quarter. Fifth Third Bancorp now owns 484 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 174 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Southwest Gas during the third quarter valued at approximately $34,000. IFP Advisors Inc grew its stake in Southwest Gas by 37.4% during the second quarter. IFP Advisors Inc now owns 713 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 194 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Southwest Gas by 256.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 876 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 630 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Southwest Gas by 207.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,008 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 680 shares during the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Stock Down 0.5 %

Shares of NYSE SWX opened at $73.02 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.39. Southwest Gas Holdings, Inc. has a 12-month low of $53.79 and a 12-month high of $76.75. The firm’s 50-day moving average price is $68.26 and its 200-day moving average price is $63.25. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 3.55 and a beta of 0.36.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.16. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. Southwest Gas had a return on equity of 7.28% and a net margin of 2.78%. On average, equities research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.45 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Tuesday, May 14th. Southwest Gas’s dividend payout ratio is currently 116.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SWX shares. StockNews.com upgraded Southwest Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Citigroup increased their target price on Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a research 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.