Southwest Gas (NYSE:SWX) Given New $101.00 Price Target at JPMorgan Chase & Co.

Southwest Gas (NYSE:SWX) had its price target decreased by JPMorgan Chase & Co. from $102.00 to $101.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.15% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group restated a “buy” rating and set a $106.00 price target on shares of Southwest Gas in a research note on Monday, October 5th. Wells Fargo & Company increased their price target on Southwest Gas from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Mizuho set a $103.00 price objective on shares of Southwest Gas in a research report on Wednesday, August 5th. Scotiabank started coverage on shares of Southwest Gas in a research note on Tuesday, September 29th. They issued a “sector outperform” rating and a $95.00 price objective on the stock. Finally, Wolfe Research began coverage on shares of Southwest Gas in a research note on Friday, October 9th. They issued a “peer perform” rating and a $92.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Southwest Gas has a consensus rating of “Moderate Buy” and an average target price of $101.25.

Southwest Gas Stock Performance

SWX stock traded up $2.09 during trading on Tuesday, hitting $88.48. The company had a trading volume of 93,119 shares, compared to its average volume of 584,713. The firm has a market cap of $6.41 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57. Southwest Gas has a 1-year low of $76.99 and a 1-year high of $94.46. The firm has a 50-day moving average price of $86.83 and a 200-day moving average price of $88.85. The company has a quick ratio of 0.99, a current ratio of 1.12 and a debt-to-equity ratio of 0.83.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. Southwest Gas had a return on equity of 6.79% and a net margin of 31.85%. The firm had revenue of $358.15 million during the quarter, compared to the consensus estimate of $416.20 million. During the same period in the prior year, the business earned ($0.18) EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. On average, analysts expect that Southwest Gas will post 4.27 earnings per share for the current year.

Insider Buying and Selling

In other Southwest Gas news, SVP Julie Williams sold 2,500 shares of Southwest Gas stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $81.81, for a total value of $204,525.00. Following the sale, the senior vice president owned 26,450 shares of the company’s stock, valued at approximately $2,163,874.50. The trade was a 8.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Southwest Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Southwest Gas during the 2nd quarter worth approximately $991,549,000. Bank of New York Mellon Corp acquired a new stake in shares of Southwest Gas in the 2nd quarter valued at approximately $74,324,000. Bank of America Corp DE purchased a new stake in shares of Southwest Gas in the second quarter valued at approximately $39,572,000. BROOKFIELD Corp ON boosted its stake in shares of Southwest Gas by 106.9% in the first quarter. BROOKFIELD Corp ON now owns 699,626 shares of the utilities provider’s stock valued at $60,797,000 after buying an additional 361,556 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Southwest Gas by 281.2% in the first quarter. Renaissance Technologies LLC now owns 459,000 shares of the utilities provider’s stock valued at $39,887,000 after buying an additional 338,600 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Southwest Gas Company Profile

Southwest Gas Corporation (NYSE: SWX) is a regulated natural gas distribution utility serving residential, commercial and industrial customers. The company purchases, transports and delivers natural gas through its distribution networks, while also providing services related to system operations, maintenance, customer support and energy conservation.

Southwest Gas serves communities in Arizona, Nevada and portions of California. Its service territory includes major metropolitan areas such as Las Vegas and Phoenix, as well as numerous smaller communities across the southwestern United States.