Southwest Gas Corporation $SWX Position Trimmed by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its holdings in shares of Southwest Gas Corporation (NYSE:SWX) by 8.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,570 shares of the utilities provider’s stock after selling 5,748 shares during the period. Peregrine Capital Management LLC owned 0.08% of Southwest Gas worth $5,177,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in shares of Southwest Gas by 223.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 440 shares of the utilities provider’s stock valued at $33,000 after buying an additional 304 shares during the last quarter. Kingdom Financial Group LLC. bought a new position in Southwest Gas in the fourth quarter worth about $56,000. Harbour Investments Inc. boosted its stake in Southwest Gas by 301.0% in the fourth quarter. Harbour Investments Inc. now owns 834 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 626 shares during the period. Daiwa Securities Group Inc. boosted its stake in Southwest Gas by 21.3% in the second quarter. Daiwa Securities Group Inc. now owns 939 shares of the utilities provider’s stock valued at $70,000 after acquiring an additional 165 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Southwest Gas during the third quarter valued at approximately $72,000. 92.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SWX. Citigroup increased their price target on Southwest Gas from $99.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wells Fargo & Company began coverage on Southwest Gas in a research note on Monday, May 11th. They set an “overweight” rating and a $105.00 price objective for the company. Weiss Ratings raised Southwest Gas from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upgraded Southwest Gas from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research note on Thursday, May 7th. Finally, UBS Group set a $100.00 price target on shares of Southwest Gas in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $97.29.

Southwest Gas Stock Down 0.1%

SWX opened at $88.62 on Thursday. The stock’s 50 day moving average price is $89.04 and its 200 day moving average price is $86.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.45 and a quick ratio of 1.32. The stock has a market cap of $6.41 billion, a P/E ratio of 12.84, a P/E/G ratio of 2.11 and a beta of 0.58. Southwest Gas Corporation has a 12 month low of $72.43 and a 12 month high of $94.43.

Southwest Gas (NYSE:SWX) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.03. The firm had revenue of $585.12 million during the quarter, compared to analyst estimates of $695.52 million. Southwest Gas had a net margin of 19.95% and a return on equity of 6.95%. Southwest Gas’s revenue was down 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS. As a group, research analysts predict that Southwest Gas Corporation will post 4.25 earnings per share for the current year.

Southwest Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.645 dividend. This represents a $2.58 annualized dividend and a dividend yield of 2.9%. This is a positive change from Southwest Gas’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, May 15th. Southwest Gas’s payout ratio is currently 37.39%.

Southwest Gas Company Profile

Southwest Gas Corporation (NYSE: SWX) is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company’s core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.

Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation’s larger natural gas utilities by customer count.