Golden State Wealth Management LLC Raises Holdings in Southwest Gas Corporation (NYSE:SWX)

Golden State Wealth Management LLC grew its position in Southwest Gas Corporation (NYSE:SWX) by 1,001.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 606 shares of the utilities provider’s stock after buying an additional 551 shares during the quarter. Golden State Wealth Management LLC’s holdings in Southwest Gas were worth $44,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Arizona State Retirement System increased its position in Southwest Gas by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,650 shares of the utilities provider’s stock valued at $1,177,000 after buying an additional 140 shares in the last quarter. State of Alaska Department of Revenue increased its position in Southwest Gas by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 7,061 shares of the utilities provider’s stock valued at $506,000 after buying an additional 190 shares in the last quarter. Mariner LLC increased its position in Southwest Gas by 2.1% during the 4th quarter. Mariner LLC now owns 10,146 shares of the utilities provider’s stock valued at $717,000 after buying an additional 207 shares in the last quarter. UMB Bank n.a. increased its position in Southwest Gas by 41.2% during the 1st quarter. UMB Bank n.a. now owns 833 shares of the utilities provider’s stock valued at $60,000 after buying an additional 243 shares in the last quarter. Finally, Inspire Advisors LLC increased its position in Southwest Gas by 7.7% during the 4th quarter. Inspire Advisors LLC now owns 4,023 shares of the utilities provider’s stock valued at $284,000 after buying an additional 288 shares in the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Southwest Gas Price Performance

NYSE:SWX opened at $73.90 on Monday. Southwest Gas Corporation has a one year low of $64.31 and a one year high of $80.29. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $5.31 billion, a PE ratio of 23.76, a P/E/G ratio of 2.01 and a beta of 0.48. The stock has a 50 day moving average price of $72.49 and a 200 day moving average price of $72.84.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Monday, May 12th. The utilities provider reported $1.65 EPS for the quarter, beating the consensus estimate of $1.61 by $0.04. Southwest Gas had a return on equity of 6.76% and a net margin of 4.66%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was down 18.0% on a year-over-year basis. Equities research analysts expect that Southwest Gas Corporation will post 3.03 EPS for the current fiscal year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, August 15th. This represents a $2.48 annualized dividend and a yield of 3.36%. Southwest Gas’s dividend payout ratio (DPR) is 79.74%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SWX shares. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research report on Friday, May 9th. Wall Street Zen raised Southwest Gas from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. JPMorgan Chase & Co. reduced their target price on Southwest Gas from $79.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Finally, Bank of America upgraded Southwest Gas from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $69.00 to $74.00 in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $75.00.

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.