Southwest Gas (NYSE:SWX) Posts Earnings Results, Beats Expectations By $0.02 EPS

Southwest Gas (NYSE:SWX) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, Briefing.com reports. Southwest Gas had a return on equity of 6.07% and a net margin of 3.44%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down 7.7% compared to the same quarter last year.

Southwest Gas Stock Performance

Southwest Gas stock traded up $1.87 during mid-day trading on Friday, reaching $75.25. The company’s stock had a trading volume of 37,072 shares, compared to its average volume of 378,645. Southwest Gas has a 12-month low of $57.03 and a 12-month high of $79.03. The firm’s fifty day moving average price is $73.15 and its two-hundred day moving average price is $73.54. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $5.40 billion, a P/E ratio of 29.59, a PEG ratio of 3.92 and a beta of 0.38.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.62 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.48 annualized dividend and a yield of 3.30%. Southwest Gas’s payout ratio is 100.00%.

Insider Buying and Selling at Southwest Gas

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $73.14, for a total value of $56,098.38. Following the transaction, the chief financial officer now owns 43,438 shares in the company, valued at approximately $3,177,055.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SWX. JPMorgan Chase & Co. decreased their price objective on shares of Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on Southwest Gas from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th.

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.