Southwest Gas Holdings, Inc. Plans Quarterly Dividend of $0.62 (NYSE:SWX)

Southwest Gas Holdings, Inc. (NYSE:SWX) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.62 per share by the utilities provider on Monday, June 2nd. This represents a $2.48 dividend on an annualized basis and a yield of 3.20%.

Southwest Gas has increased its dividend by an average of 1.7% annually over the last three years. Southwest Gas has a payout ratio of 60.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Southwest Gas to earn $3.69 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 67.2%.

Southwest Gas Stock Down 0.6 %

Shares of NYSE SWX opened at $77.50 on Thursday. Southwest Gas has a 52-week low of $59.40 and a 52-week high of $80.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50 day moving average price is $72.75 and its 200-day moving average price is $73.44. The company has a market capitalization of $5.56 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 3.20 and a beta of 0.44.

Analyst Ratings Changes

A number of analysts have commented on SWX shares. Jefferies Financial Group began coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price target on the stock. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. Bank of America reiterated an “underperform” rating and issued a $73.00 target price on shares of Southwest Gas in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. cut their price target on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.80.

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.