Hennessy Advisors Inc. Purchases 51,000 Shares of Southwest Gas Corp. (SWX)
Hennessy Advisors Inc. raised its stake in shares of Southwest Gas Corp. (NYSE:SWX) by 15.7% during the third quarter, Holdings Channel reports. The institutional investor owned 376,817 shares of the company’s stock after buying an additional 51,000 shares during the period. Hennessy Advisors Inc.’s holdings in Southwest Gas Corp. were worth $26,324,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Advisor Group Inc. acquired a new stake in Southwest Gas Corp. during the second quarter valued at about $106,000. O Shaughnessy Asset Management LLC acquired a new stake in Southwest Gas Corp. during the second quarter valued at about $190,000. Ashfield Capital Partners LLC acquired a new stake in Southwest Gas Corp. during the second quarter valued at about $215,000. Stifel Financial Corp acquired a new stake in Southwest Gas Corp. during the second quarter valued at about $218,000. Finally, LS Investment Advisors LLC raised its stake in Southwest Gas Corp. by 75.4% in the second quarter. LS Investment Advisors LLC now owns 2,833 shares of the company’s stock valued at $223,000 after buying an additional 1,218 shares in the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.
Shares of Southwest Gas Corp. (NYSE:SWX) traded down 0.3199% during trading on Tuesday, hitting $75.1987. The stock had a trading volume of 43,384 shares. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.4776 and a beta of 0.46. Southwest Gas Corp. has a 52 week low of $50.53 and a 52 week high of $79.58. The company’s 50 day moving average price is $70.91 and its 200 day moving average price is $72.40.
Southwest Gas Corp. (NYSE:SWX) last released its quarterly earnings results on Monday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business earned $539.97 million during the quarter, compared to the consensus estimate of $528.36 million. Southwest Gas Corp. had a return on equity of 9.26% and a net margin of 6.11%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) EPS. Analysts predict that Southwest Gas Corp. will post $3.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 15th will be paid a $0.45 dividend. The ex-dividend date is Monday, February 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.40%. Southwest Gas Corp.’s payout ratio is presently 56.25%.
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Several analysts have issued reports on SWX shares. Argus restated a “hold” rating on shares of Southwest Gas Corp. in a research note on Thursday, September 8th. Zacks Investment Research upgraded Southwest Gas Corp. from a “sell” rating to a “hold” rating and set a $77.00 price objective on the stock in a research note on Tuesday, October 18th. Finally, Jefferies Group upgraded Southwest Gas Corp. from an “underperform” rating to a “hold” rating and set a $65.00 price objective on the stock in a research note on Thursday, October 13th. Five analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $72.75.
In other news, CFO Roy R. Centrella sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $71.54, for a total value of $71,540.00. Following the transaction, the chief financial officer now owns 31,618 shares in the company, valued at approximately $2,261,951.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory J. Peterson sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $75.19, for a total value of $45,114.00. Following the completion of the transaction, the vice president now owns 14,246 shares in the company, valued at approximately $1,071,156.74. The disclosure for this sale can be found here. 1.34% of the stock is owned by insiders.
About Southwest Gas Corp.
Southwest Gas Corporation is engaged in the business of purchasing, distributing and transporting natural gas in Arizona, Nevada and California. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc, (Centuri).
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