Tidal Investments LLC Acquires 3,550 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Tidal Investments LLC increased its holdings in shares of Southwest Gas Holdings, Inc. (NYSE:SWX) by 49.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,779 shares of the utilities provider’s stock after purchasing an additional 3,550 shares during the period. Tidal Investments LLC’s holdings in Southwest Gas were worth $795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. raised its holdings in Southwest Gas by 67.2% during the 3rd quarter. UMB Bank n.a. now owns 398 shares of the utilities provider’s stock worth $29,000 after buying an additional 160 shares during the period. Waldron Private Wealth LLC acquired a new stake in shares of Southwest Gas during the third quarter worth $40,000. Blue Trust Inc. lifted its position in Southwest Gas by 96.6% in the 2nd quarter. Blue Trust Inc. now owns 574 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 282 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Southwest Gas in the 2nd quarter worth $49,000. Finally, nVerses Capital LLC bought a new position in Southwest Gas during the 3rd quarter worth about $66,000. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Southwest Gas Trading Up 0.1 %

Southwest Gas stock opened at $69.65 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average of $75.13 and a 200-day moving average of $73.54. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 3.84 and a beta of 0.41. Southwest Gas Holdings, Inc. has a one year low of $57.55 and a one year high of $80.29.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Southwest Gas had a return on equity of 5.99% and a net margin of 3.44%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. On average, equities analysts expect that Southwest Gas Holdings, Inc. will post 3.16 earnings per share for the current fiscal year.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, February 18th. Southwest Gas’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America restated an “underperform” rating and issued a $73.00 price target on shares of Southwest Gas in a report on Friday, December 13th. Wells Fargo & Company upped their price target on Southwest Gas from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.50.

Insider Transactions at Southwest Gas

In related news, major shareholder Carl C. Icahn sold 1,390,000 shares of Southwest Gas stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $76.74, for a total transaction of $106,668,600.00. Following the completion of the transaction, the insider now owns 9,632,604 shares in the company, valued at approximately $739,206,030.96. This trade represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.