Southwest Gas (NYSE:SWX) Announces Earnings Results

Southwest Gas (NYSE:SWX) released its quarterly earnings results on Wednesday. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, Briefing.com reports. The company had revenue of $1.08 billion during 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 6.18%. During the same period in the prior year, the company earned $0.10 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year.

Southwest Gas Stock Performance

Shares of NYSE:SWX traded down $0.62 during trading on Thursday, hitting $73.03. 95,628 shares of the stock were exchanged, compared to its average volume of 379,124. The company’s fifty day simple moving average is $73.12 and its 200-day simple moving average is $73.54. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 3.83 and a beta of 0.38. Southwest Gas has a 1-year low of $57.03 and a 1-year high of $79.03.

Southwest Gas Announces Dividend

The company 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 $0.62 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.40%. Southwest Gas’s dividend payout ratio is currently 98.41%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $73.14, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by company insiders.

Southwest Gas Company 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.