Royal Bank of Canada grew its stake in Southwest Gas Holdings, Inc. (NYSE:SWX – Get Rating) by 13.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,608 shares of the utilities provider’s stock after acquiring an additional 19,348 shares during the quarter. Royal Bank of Canada owned 0.24% of Southwest Gas worth $11,063,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SWX. Icahn Carl C grew its position in shares of Southwest Gas by 76.1% in the 2nd quarter. Icahn Carl C now owns 5,103,121 shares of the utilities provider’s stock valued at $444,380,000 after purchasing an additional 2,204,445 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Southwest Gas by 11.6% in 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 during the last quarter. TIG Advisors LLC acquired a new stake in shares of Southwest Gas in the 2nd quarter valued at approximately $43,214,000. Millennium Management LLC boosted its holdings in shares of Southwest Gas by 441.3% in the 2nd quarter. Millennium Management LLC now owns 491,622 shares of the utilities provider’s stock valued at $42,810,000 after buying an additional 400,804 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Southwest Gas by 222.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 394,594 shares of the utilities provider’s stock valued at $34,361,000 after acquiring an additional 272,223 shares during the period. 87.59% of the stock is owned by institutional investors.
Southwest Gas Trading Up 3.9 %
Shares of NYSE SWX opened at $62.46 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 1.08. Southwest Gas Holdings, Inc. has a 52 week low of $57.93 and a 52 week high of $95.62. The stock’s fifty day moving average is $64.66 and its 200 day moving average is $69.19.
Southwest Gas Dividend Announcement
Analysts Set New Price Targets
SWX has been the topic of a number of research analyst reports. Bank of America cut Southwest Gas from a “buy” rating to a “neutral” rating and dropped their price target for the company from $87.00 to $65.00 in a research note on Wednesday, November 30th. TheStreet cut Southwest Gas from a “b-” rating to a “c+” rating in a research note on Thursday, December 15th. Wells Fargo & Company dropped their price target on Southwest Gas from $71.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 2nd. StockNews.com cut Southwest Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, March 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Southwest Gas from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.60.
Southwest Gas Profile
Southwest Gas Holdings, Inc engages in the energy business. It operates through the following business segments: Natural Gas Operations and Utility Infrastructure Services. The Natural Gas Operations segment focuses on purchasing, distribution, and transportation of natural gas in Arizona, California, and Nevada.
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