Norges Bank Takes $36.05 Million Position in Southwest Gas Holdings, Inc. (NYSE:SWX)

Norges Bank acquired a new position in Southwest Gas Holdings, Inc. (NYSE:SWXFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 569,120 shares of the utilities provider’s stock, valued at approximately $36,054,000. Norges Bank owned about 0.80% of Southwest Gas as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWX. FMR LLC increased its stake in shares of Southwest Gas by 519.3% during the 3rd quarter. FMR LLC now owns 782,898 shares of the utilities provider’s stock worth $47,295,000 after purchasing an additional 656,473 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Southwest Gas by 160.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 325,000 shares of the utilities provider’s stock worth $19,633,000 after purchasing an additional 200,000 shares in the last quarter. Carronade Capital Management LP increased its position in Southwest Gas by 34.1% during the third quarter. Carronade Capital Management LP now owns 585,394 shares of the utilities provider’s stock worth $35,364,000 after buying an additional 148,826 shares during the last quarter. Wellington Management Group LLP raised its holdings in Southwest Gas by 20.9% during the third quarter. Wellington Management Group LLP now owns 851,550 shares of the utilities provider’s stock valued at $51,442,000 after buying an additional 147,294 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Southwest Gas by 140.4% in the third quarter. UBS Group AG now owns 108,032 shares of the utilities provider’s stock worth $6,526,000 after buying an additional 63,086 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company started coverage on Southwest Gas in a report on Monday, May 13th. They set an “equal weight” rating and a $77.00 price objective on the stock. Citigroup increased their price target on Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 29th.

View Our Latest Stock Report on Southwest Gas

Insider Buying and Selling

In other Southwest Gas news, insider Justin L. Brown sold 2,625 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $76.50, for a total transaction of $200,812.50. Following the sale, the insider now directly owns 23,830 shares of the company’s stock, valued at $1,822,995. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.

Southwest Gas Stock Up 1.8 %

NYSE SWX opened at $75.18 on Friday. Southwest Gas Holdings, Inc. has a 1-year low of $56.17 and a 1-year high of $78.46. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 3.71 and a beta of 0.36. The stock’s 50 day moving average is $75.12 and its two-hundred day moving average is $67.25. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.39.

Southwest Gas (NYSE:SWXGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.33). Southwest Gas had a net margin of 3.56% and a return on equity of 6.71%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm earned $1.69 EPS. Southwest Gas’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts forecast that Southwest Gas Holdings, Inc. will post 3.42 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Thursday, August 15th. Southwest Gas’s payout ratio is 92.88%.

Southwest Gas Profile

(Free Report)

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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Institutional Ownership by Quarter for Southwest Gas (NYSE:SWX)

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