Summit Global Investments Has $1.12 Million Holdings in Southwest Gas Holdings, Inc. (NYSE:SWX)

Summit Global Investments lessened its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 13.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,890 shares of the utilities provider’s stock after selling 2,400 shares during the period. Summit Global Investments’ holdings in Southwest Gas were worth $1,124,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SWX. Maverick Capital Ltd. grew its stake in Southwest Gas by 18.5% in the third quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider’s stock valued at $130,197,000 after acquiring an additional 275,992 shares during the period. Raymond James Financial Inc. acquired a new stake in Southwest Gas in the fourth quarter valued at approximately $6,946,000. Zimmer Partners LP acquired a new stake in Southwest Gas in the third quarter valued at approximately $6,823,000. Barclays PLC grew its stake in Southwest Gas by 192.7% in the third quarter. Barclays PLC now owns 105,134 shares of the utilities provider’s stock valued at $7,755,000 after acquiring an additional 69,212 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in Southwest Gas by 107.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 83,306 shares of the utilities provider’s stock valued at $6,145,000 after acquiring an additional 43,131 shares during the period. Institutional investors and hedge funds own 92.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SWX. JPMorgan Chase & Co. cut their target price on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH raised Southwest Gas to a “strong-buy” rating in a research report on Monday, March 17th. Bank of America reaffirmed an “underperform” rating and set a $73.00 target price on shares of Southwest Gas in a research report on Friday, December 13th. Finally, Jefferies Financial Group began coverage on Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.00.

Southwest Gas Stock Down 1.1 %

SWX stock opened at $75.18 on Friday. The stock’s fifty day simple moving average is $74.66 and its two-hundred day simple moving average is $73.95. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a 1-year low of $64.31 and a 1-year high of $80.29. The stock has a market cap of $5.40 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.16 and a beta of 0.37.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Analysts expect that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a $0.62 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.48 annualized dividend and a yield of 3.30%. Southwest Gas’s dividend payout ratio is currently 90.18%.

Southwest Gas Profile

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.