PNC Financial Services Group Inc. Lowers Stake in Southwest Gas Holdings, Inc. (NYSE:SWX)

PNC Financial Services Group Inc. cut its stake in Southwest Gas Holdings, Inc. (NYSE:SWX) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,648 shares of the utilities provider’s stock after selling 227 shares during the period. PNC Financial Services Group Inc.’s holdings in Southwest Gas were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in shares of Southwest Gas by 599.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,877 shares of the utilities provider’s stock valued at $729,000 after purchasing an additional 8,464 shares during the last quarter. Citigroup Inc. grew its position in Southwest Gas by 234.1% during the third quarter. Citigroup Inc. now owns 53,403 shares of the utilities provider’s stock valued at $3,939,000 after acquiring an additional 37,418 shares during the last quarter. Hennessy Advisors Inc. raised its stake in shares of Southwest Gas by 31.1% during the fourth quarter. Hennessy Advisors Inc. now owns 110,817 shares of the utilities provider’s stock worth $7,836,000 after acquiring an additional 26,300 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Southwest Gas during the fourth quarter valued at about $1,000,000. Finally, O Keefe Stevens Advisory Inc. increased its holdings in shares of Southwest Gas by 45.0% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 11,775 shares of the utilities provider’s stock worth $833,000 after buying an additional 3,654 shares during the period. Institutional investors own 92.77% of the company’s stock.

Southwest Gas Stock Down 0.2 %

Shares of Southwest Gas stock opened at $76.07 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. Southwest Gas Holdings, Inc. has a 12-month low of $64.31 and a 12-month high of $80.29. The company has a market cap of $5.46 billion, a P/E ratio of 30.67, a PEG ratio of 3.16 and a beta of 0.37. The company’s fifty day simple moving average is $74.53 and its two-hundred day simple moving average is $73.91.

Southwest Gas (NYSE:SWX) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Southwest Gas had a net margin of 3.44% and a return on equity of 5.99%. Research analysts anticipate that Southwest Gas Holdings, Inc. will post 3.03 EPS for the current year.

Southwest Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.26%. Southwest Gas’s dividend payout ratio is presently 90.18%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH upgraded shares of Southwest Gas to a “strong-buy” rating in a report on Monday. Jefferies Financial Group started coverage on shares of Southwest Gas in a report on Tuesday, January 14th. They set a “hold” rating and a $73.00 price target for the company. Finally, Bank of America reissued an “underperform” rating and issued a $73.00 price target on shares of Southwest Gas in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $74.00.

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.