Southwest Gas Corporation (SWX) is Upgraded by Jefferies to Hold

Southwest Gas Corporation (SWX) was Upgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Underperform ” on the company shares. Jefferies advised their investors in a research report released on Oct 13, 2016.

Many Wall Street Analysts have commented on Southwest Gas Corporation. Southwest Gas Corporation was Downgraded by Jefferies to ” Underperform” on Jul 25, 2016.

On the company’s financial health, Southwest Gas Corporation reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.18. The company had revenue of $547.75 million for the quarter, compared to analysts expectations of $561.21 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Southwest Gas Corporation closed down -1.6 points or -2.43% at $64.35 with 1,38,969 shares getting traded on Tuesday. Post opening the session at $65.67, the shares hit an intraday low of $64.26 and an intraday high of $65.67 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

Investors should note that on Sep 28, 2016, Southwest Gas Corporation announced a cash dividend of $0.4500. The company’s management has announced Nov 11, 2016 as the ex-dividend date and fixed the record date on Nov 15, 2016. The payable date has been fixed on Dec 1, 2016.

In a different news, on Sep 23, 2016, Roy R Centrella (SVP/Chief Financial Officer) sold 1,000 shares at $71.54 per share price. According to the SEC, on Aug 12, 2016, Eric Debonis (SVP/Operations) sold 600 shares at $72.99 per share price. On Jun 22, 2016, John P Hester (President and CEO) sold 2,000 shares at $75.03 per share price, according to the Form-4 filing with the securities and exchange commission.

Southwest Gas Corporation is engaged in the business of purchasing distributing and transporting natural gas in Arizona Nevada and California. The Company has two business segments: natural gas operations and construction services. The Company operates two pipeline transmission systems: a system including a liquefied natural gas (LNG) storage facility owned by Paiute extending from the Idaho-Nevada border to the Reno Sparks and Carson City areas and communities in the Lake Tahoe area in both California and Nevada and other communities in northern and western Nevada and a system extending from the Colorado River at the southern tip of Nevada to the Las Vegas distribution area. The natural gas operations segment includes acquiring and arranging delivery of natural gas to its system. The construction services segment consists of Centuri which includes NPL Construction Co. Link-Line Contractors W.S. Nicholls Construction and Brigadier Pipelines.

Southwest Gas Corporation

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