State of Alaska Department of Revenue Lowers Stock Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

State of Alaska Department of Revenue lowered its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,491 shares of the utilities provider’s stock after selling 695 shares during the period. State of Alaska Department of Revenue’s holdings in Southwest Gas were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased 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 worth $29,000 after buying an additional 174 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Southwest Gas during the third quarter worth about $34,000. IFP Advisors Inc boosted its position in Southwest Gas by 37.4% during the second quarter. IFP Advisors Inc now owns 713 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 194 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Southwest Gas by 256.1% during the fourth 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 during the period. Finally, NewEdge Advisors LLC boosted its position in Southwest Gas by 207.3% during the first quarter. NewEdge Advisors LLC now owns 1,008 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 680 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Southwest Gas Price Performance

SWX stock opened at $72.86 on Friday. The firm has a 50 day moving average of $68.51 and a 200-day moving average of $63.33. 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 has a market capitalization of $5.22 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 3.53 and a beta of 0.36.

Southwest Gas (NYSE:SWX) last released its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.16. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. As a group, sell-side analysts predict that Southwest Gas Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SWX. StockNews.com upgraded shares of Southwest Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Citigroup increased their target price on shares of Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th.

Southwest Gas Profile

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.