Southwest Gas (NYSE:SWX) Upgraded to Buy by Argus

Southwest Gas (NYSE:SWXGet Rating) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Briefing.com reports. The brokerage currently has a $100.00 price objective on the utilities provider’s stock. Argus’ price objective would suggest a potential upside of 8.45% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. TheStreet upgraded shares of Southwest Gas from a “c+” rating to a “b-” rating in a report on Monday, April 4th. Bank of America upgraded shares of Southwest Gas from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $81.00 to $88.00 in a report on Wednesday, March 30th. Wells Fargo & Company lifted their target price on shares of Southwest Gas from $84.00 to $101.00 in a research note on Tuesday, May 10th. Finally, StockNews.com raised shares of Southwest Gas from a “sell” rating to a “hold” rating in a research note on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $91.75.

Shares of SWX opened at $92.21 on Thursday. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 4.09 and a beta of 0.10. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.78 and a current ratio of 0.78. Southwest Gas has a fifty-two week low of $62.54 and a fifty-two week high of $95.62. The firm has a 50 day moving average price of $88.43 and a 200-day moving average price of $76.24.

In other Southwest Gas news, CAO Lori L. Colvin sold 1,403 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $93.38, for a total transaction of $131,012.14. Following the transaction, the chief accounting officer now directly owns 3,863 shares of the company’s stock, valued at approximately $360,726.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric Debonis sold 3,500 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $92.02, for a total transaction of $322,070.00. Following the transaction, the senior vice president now directly owns 9,264 shares in the company, valued at $852,473.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,578 shares of company stock worth $794,112. 0.79% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Southwest Gas by 363.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,884,490 shares of the utilities provider’s stock valued at $132,008,000 after buying an additional 1,477,485 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Southwest Gas by 9.2% during the 1st quarter. BlackRock Inc. now owns 10,140,343 shares of the utilities provider’s stock valued at $793,886,000 after buying an additional 857,178 shares in the last quarter. Vanguard Group Inc. boosted 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 buying an additional 690,696 shares in the last quarter. Norges Bank bought a new stake in shares of Southwest Gas during the 4th quarter valued at $46,660,000. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Southwest Gas by 17.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,609,763 shares of the utilities provider’s stock valued at $204,318,000 after buying an additional 378,480 shares in the last quarter. 85.29% of the stock is currently owned by institutional investors and hedge funds.

Southwest Gas Company Profile (Get Rating)

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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