Southwest Gas Holdings, Inc. (NYSE:SWX) Announces $0.62 Quarterly Dividend

Southwest Gas Holdings, Inc. (NYSE:SWX) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.62 per share by the utilities provider on Monday, June 2nd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.20%.

Southwest Gas has increased its dividend by an average of 1.7% per year over the last three years. Southwest Gas has a payout ratio of 60.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Southwest Gas to earn $3.69 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 67.2%.

Southwest Gas Stock Down 0.6 %

Shares of NYSE:SWX traded down $0.45 during trading on Wednesday, reaching $77.50. The stock had a trading volume of 207,015 shares, compared to its average volume of 339,032. Southwest Gas has a one year low of $59.40 and a one year high of $80.29. The company has a market capitalization of $5.56 billion, a P/E ratio of 31.25, a PEG ratio of 3.18 and a beta of 0.44. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The firm’s 50-day simple moving average is $72.70 and its 200 day simple moving average is $73.42.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SWX shares. JPMorgan Chase & Co. lowered their price target on shares of Southwest Gas from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Bank of America reaffirmed an “underperform” rating and issued a $73.00 price objective on shares of Southwest Gas in a research report on Friday, December 13th. Jefferies Financial Group began coverage on shares of Southwest Gas in a research report on Tuesday, January 14th. They issued a “hold” rating and a $73.00 price objective for the company. Finally, LADENBURG THALM/SH SH raised shares of Southwest Gas to a “strong-buy” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Southwest Gas presently has a consensus rating of “Hold” and a consensus target price of $73.80.

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.