Southwest Gas (NYSE:SWX) Stock Rating Upgraded by LADENBURG THALM/SH SH

Southwest Gas (NYSE:SWX) was upgraded by stock analysts at LADENBURG THALM/SH SH to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Bank of America restated an “underperform” rating and issued a $73.00 target price on shares of Southwest Gas in a research note on Friday, December 13th. JPMorgan Chase & Co. dropped their target price on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. 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 objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.00.

Southwest Gas Stock Performance

Southwest Gas stock opened at $75.29 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. Southwest Gas has a 1-year low of $64.31 and a 1-year high of $80.29. The firm has a market capitalization of $5.41 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 3.16 and a beta of 0.37. The company’s 50-day moving average is $74.29 and its 200 day moving average is $73.88.

Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. Research analysts forecast that Southwest Gas will post 3.03 EPS for the current year.

Institutional Investors Weigh In On Southwest Gas

Several institutional investors and hedge funds have recently made changes to their positions in SWX. Zimmer Partners LP lifted its stake in shares of Southwest Gas by 884.4% during the fourth quarter. Zimmer Partners LP now owns 910,615 shares of the utilities provider’s stock worth $64,390,000 after buying an additional 818,115 shares during the period. Norges Bank acquired a new stake in shares of Southwest Gas during the fourth quarter worth $51,011,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Southwest Gas by 111.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the utilities provider’s stock worth $63,639,000 after buying an additional 475,000 shares during the period. Maverick Capital Ltd. lifted its stake in shares of Southwest Gas by 18.5% during the third quarter. Maverick Capital Ltd. now owns 1,765,148 shares of the utilities provider’s stock worth $130,197,000 after buying an additional 275,992 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Southwest Gas by 83.3% during the fourth quarter. JPMorgan Chase & Co. now owns 505,555 shares of the utilities provider’s stock worth $35,748,000 after buying an additional 229,739 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

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.