Southwest Gas Holdings, Inc. (NYSE:SWX) Plans Quarterly Dividend of $0.62

Southwest Gas Holdings, Inc. (NYSE:SWXGet Rating) declared a quarterly dividend on Wednesday, September 21st, Zacks reports. Investors of record on Tuesday, November 15th will be given a dividend of 0.62 per share by the utilities provider on Thursday, December 1st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Monday, November 14th.

Southwest Gas has increased its dividend payment by an average of 4.6% annually over the last three years and has increased its dividend every year for the last 15 years. Southwest Gas has a dividend payout ratio of 50.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Southwest Gas to earn $4.83 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 51.3%.

Southwest Gas Trading Up 0.1 %

NYSE:SWX opened at $78.74 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.33. Southwest Gas has a 1-year low of $62.58 and a 1-year high of $95.62. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 3.80 and a beta of 0.16. The stock has a fifty day simple moving average of $81.08 and a 200 day simple moving average of $84.08.

Southwest Gas (NYSE:SWXGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.30). The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Southwest Gas had a return on equity of 6.96% and a net margin of 3.37%. During the same period in the prior year, the company posted $0.43 earnings per share. Sell-side analysts forecast that Southwest Gas will post 4.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SWX. Vanguard Group Inc. increased its holdings in shares of Southwest Gas by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 6,646,936 shares of the utilities provider’s stock valued at $520,388,000 after acquiring an additional 690,696 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Southwest Gas by 222.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 394,594 shares of the utilities provider’s stock valued at $34,361,000 after acquiring an additional 272,223 shares during the last quarter. State Street Corp increased its holdings in shares of Southwest Gas by 8.9% during the 1st quarter. State Street Corp now owns 2,010,018 shares of the utilities provider’s stock valued at $157,364,000 after acquiring an additional 164,718 shares during the last quarter. Verition Fund Management LLC grew its holdings in Southwest Gas by 1,300.1% in the 1st quarter. Verition Fund Management LLC now owns 140,008 shares of the utilities provider’s stock valued at $10,961,000 after buying an additional 130,008 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Southwest Gas by 239.0% in the 1st quarter. Hsbc Holdings PLC now owns 101,016 shares of the utilities provider’s stock valued at $7,961,000 after buying an additional 71,222 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Ratings Changes

SWX has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on Southwest Gas from $101.00 to $86.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 10th. Argus raised Southwest Gas from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Thursday, June 9th. Finally, StockNews.com downgraded Southwest Gas from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Southwest Gas presently has an average rating of “Hold” and a consensus target price of $91.33.

Southwest Gas Company Profile

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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.

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Dividend History for Southwest Gas (NYSE:SWX)

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