Southwest Gas (NYSE:SWX) Issues Quarterly Earnings Results

Southwest Gas (NYSE:SWX) issued its earnings results on Wednesday. The utilities provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.33), Briefing.com reports. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.38 billion. Southwest Gas had a net margin of 2.78% and a return on equity of 7.28%. Southwest Gas’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.69 earnings per share.

Southwest Gas Trading Down 0.5 %

Shares of SWX traded down $0.35 during trading on Friday, reaching $76.61. 68,528 shares of the company traded hands, compared to its average volume of 453,429. Southwest Gas has a twelve month low of $55.13 and a twelve month high of $77.16. The stock has a market cap of $5.49 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 3.63 and a beta of 0.36. The stock has a 50-day simple moving average of $73.76 and a 200-day simple moving average of $65.37. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.39.

Southwest Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, August 15th. Southwest Gas’s payout ratio is currently 116.98%.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their target price on shares of Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th.

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.