Millennium Management LLC Purchases 27,323 Shares of Southwest Gas Holdings, Inc. (NYSE:SWX)

Millennium Management LLC grew its position in Southwest Gas Holdings, Inc. (NYSE:SWX) by 266.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,595 shares of the utilities provider’s stock after acquiring an additional 27,323 shares during the quarter. Millennium Management LLC owned 0.05% of Southwest Gas worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Kapitalo Investimentos Ltda grew its position 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 acquiring an additional 171 shares during the last quarter. Retirement Systems of Alabama raised its stake in Southwest Gas by 0.3% in the first quarter. Retirement Systems of Alabama now owns 75,442 shares of the utilities provider’s stock valued at $5,743,000 after buying an additional 199 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Southwest Gas by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,174 shares of the utilities provider’s stock valued at $645,000 after buying an additional 213 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Southwest Gas by 5.2% in the second quarter. Inspire Investing LLC now owns 4,968 shares of the utilities provider’s stock valued at $350,000 after purchasing an additional 245 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Southwest Gas by 154.8% in the second quarter. GAMMA Investing LLC now owns 428 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 260 shares during the period. Institutional investors own 92.77% of the company’s stock.

Insiders Place Their Bets

In other Southwest Gas news, CFO Robert J. Stefani sold 767 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $73.14, for a total transaction of $56,098.38. Following the completion of the sale, the chief financial officer now owns 43,438 shares of the company’s stock, valued at $3,177,055.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased 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. JPMorgan Chase & Co. cut their price objective on Southwest Gas from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Southwest Gas Stock Up 0.9 %

Southwest Gas stock opened at $75.10 on Wednesday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 3.80 and a beta of 0.38. Southwest Gas Holdings, Inc. has a 52 week low of $56.17 and a 52 week high of $78.46. The business’s 50-day moving average price is $72.37 and its 200 day moving average price is $73.57. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.38.

Southwest Gas (NYSE:SWX) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Southwest Gas had a return on equity of 6.18% and a net margin of 3.44%. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, sell-side analysts anticipate that Southwest Gas Holdings, Inc. will post 3.2 earnings per share for the current year.

Southwest Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, November 15th. This represents a $2.48 annualized dividend and a yield of 3.30%. Southwest Gas’s dividend payout ratio (DPR) is 98.41%.

Southwest Gas 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.