Southwest Gas Co. (NYSE:SWX) Receives Consensus Recommendation of “Hold” from Brokerages

Southwest Gas Co. (NYSE:SWX) has been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $61.50.

Southwest Gas (NYSE:SWX) traded down 2.36% during trading on Monday, hitting $53.86. The stock had a trading volume of 218,498 shares. Southwest Gas has a 1-year low of $50.53 and a 1-year high of $63.68. The firm has a 50 day moving average price of $54.21 and a 200-day moving average price of $55.94. The firm has a market capitalization of $2.55 billion and a PE ratio of 19.40.

Southwest Gas (NYSE:SWX) last posted its earnings results on Wednesday, November 4th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.15. On average, equities research analysts expect that Southwest Gas will post $2.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 1st. Investors of record on Tuesday, February 16th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $1.62 dividend on an annualized basis and a yield of 2.94%.

In other news, CAO Gregory J. Peterson sold 800 shares of the business’s stock in a transaction on Tuesday, December 29th. The shares were sold at an average price of $56.40, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,569 shares in the company, valued at approximately $821,691.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several research firms have commented on SWX. Zacks Investment Research cut shares of Southwest Gas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 10th. Jefferies Group lowered their price target on shares of Southwest Gas to $57.00 and set a “hold” rating on the stock in a report on Thursday, December 3rd. Finally, Argus lifted their price target on shares of Southwest Gas from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, October 12th.

12 Month Chart for NYSE:SWX

Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. The Company has two business segments: natural gas operations and construction services. The Company operates two pipeline transmission systems: a system, including a liquefied natural gas (NYSE:SWX) storage facility owned by Paiute extending from the Idaho-Nevada border to the Reno, Sparks, and Carson City areas and communities in the Lake Tahoe area in both California and Nevada and other communities in northern and western Nevada, and a system extending from the Colorado River at the southern tip of Nevada to the Las Vegas distribution area. The natural gas operations segment includes acquiring and arranging delivery of natural gas to its system. The construction services segment consists of Centuri, which includes NPL Construction Co., Link-Line Contractors, W.S. Nicholls Construction and Brigadier Pipelines.

 

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