Southwest Gas (NYSE:SWX) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Southwest Gas (NYSE:SWX) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, Briefing.com reports. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 6.07%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share.

Southwest Gas Price Performance

Shares of SWX traded up $1.87 during trading hours on Friday, reaching $75.25. The company had a trading volume of 37,072 shares, compared to its average volume of 378,645. Southwest Gas has a 12-month low of $57.03 and a 12-month high of $79.03. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.38. The firm has a 50 day simple moving average of $73.15 and a 200-day simple moving average of $73.54. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 3.92 and a beta of 0.38.

Southwest Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.30%. Southwest Gas’s payout ratio is 100.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on shares of Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th.

Insiders Place Their Bets

In related news, CFO Robert J. Stefani sold 767 shares of Southwest Gas stock in a transaction on Monday, August 26th. The shares were sold at an average price of $73.14, for a total transaction of $56,098.38. Following the sale, the chief financial officer now owns 43,438 shares of the company’s stock, valued at $3,177,055.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.39% of the stock is currently owned by company insiders.

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.