BTC Capital Management Inc. Makes New $254,000 Investment in Southwest Gas Holdings, Inc. (NYSE:SWX)

BTC Capital Management Inc. acquired a new stake in Southwest Gas Holdings, Inc. (NYSE:SWX) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,339 shares of the utilities provider’s stock, valued at approximately $254,000.

Several other large investors have also made changes to their positions in the business. Jones Financial Companies Lllp boosted its holdings in Southwest Gas by 461.9% in the 4th quarter. Jones Financial Companies Lllp now owns 1,371 shares of the utilities provider’s stock worth $87,000 after buying an additional 1,127 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Southwest Gas by 520.4% in the fourth quarter. Allworth Financial LP now owns 3,071 shares of the utilities provider’s stock worth $195,000 after acquiring an additional 2,576 shares during the last quarter. Assetmark Inc. increased its position in shares of Southwest Gas by 22.6% during the fourth quarter. Assetmark Inc. now owns 3,152 shares of the utilities provider’s stock worth $200,000 after purchasing an additional 581 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Southwest Gas in the 4th quarter valued at $239,000. Finally, Kapitalo Investimentos Ltda lifted its holdings in Southwest Gas by 4.2% in the 4th quarter. Kapitalo Investimentos Ltda now owns 4,234 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 171 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Southwest Gas Stock Performance

NYSE SWX opened at $73.54 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s fifty day moving average is $75.12 and its two-hundred day moving average is $68.90. The firm has a market capitalization of $5.27 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 3.62 and a beta of 0.39. Southwest Gas Holdings, Inc. has a fifty-two week low of $56.17 and a fifty-two week high of $78.46.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.33). Southwest Gas had a net margin of 3.56% and a return on equity of 6.71%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $1.69 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.42 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a $0.62 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.48 dividend on an annualized basis and a yield of 3.37%. Southwest Gas’s dividend payout ratio is currently 92.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SWX shares. Citigroup upped their target price on shares of Southwest Gas from $64.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Wells Fargo & Company started coverage on shares of Southwest Gas in a research note on Monday, May 13th. They set an “equal weight” rating and a $77.00 price objective for the company.

Insider Activity at Southwest Gas

In other Southwest Gas news, insider Justin L. Brown sold 2,625 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $76.50, for a total transaction of $200,812.50. Following the transaction, the insider now directly owns 23,830 shares in the company, valued at $1,822,995. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by insiders.

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.