Southwest Gas (NYSE:SWX) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Southwest Gas (NYSE:SWX) posted its quarterly earnings results on Wednesday. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating 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 Trading Down 2.3 %

Shares of Southwest Gas stock traded down $1.77 during trading hours on Wednesday, hitting $75.51. The company’s stock had a trading volume of 120,543 shares, compared to its average volume of 342,872. Southwest Gas has a 12 month low of $61.37 and a 12 month high of $80.29. 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 stock has a 50 day moving average of $73.12 and a 200 day moving average of $73.63. The company has a market capitalization of $5.42 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.16 and a beta of 0.44.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 yield of 3.28%. Southwest Gas’s payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SWX. Bank of America reaffirmed an “underperform” rating and set a $73.00 price target on shares of Southwest Gas in a report 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 report on Tuesday, January 28th. Jefferies Financial Group assumed coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price objective for the company. Finally, LADENBURG THALM/SH SH raised shares of Southwest Gas to a “strong-buy” rating in a report on Friday, January 24th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.80.

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.