Southwest Gas (NYSE:SWX) Posts Earnings Results, Beats Estimates By $0.18 EPS

Southwest Gas (NYSE:SWX) posted its quarterly earnings data on Wednesday. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18, Zacks reports. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%.

Southwest Gas Price Performance

Shares of NYSE SWX traded down $2.01 during midday trading on Wednesday, hitting $75.27. 50,806 shares of the company’s stock were exchanged, compared to its average volume of 341,232. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The business’s fifty day moving average price is $73.12 and its two-hundred day moving average price is $73.63. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 3.16 and a beta of 0.44. Southwest Gas has a 12-month low of $61.37 and a 12-month high of $80.29.

Southwest Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.29%. Southwest Gas’s dividend payout ratio (DPR) is presently 100.00%.

Analysts Set New Price Targets

Several equities analysts recently commented on SWX shares. JPMorgan Chase & Co. dropped their price objective on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Bank of America reaffirmed an “underperform” rating and set a $73.00 price objective on shares of Southwest Gas in a report on Friday, December 13th. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a “strong-buy” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group started coverage on shares of Southwest Gas in a research note on Tuesday, January 14th. They set a “hold” rating and a $73.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.80.

About Southwest Gas

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.