After Forming Wedge Up Pattern, Is Southwest Gas Holdings, Inc. (SWX)’s Near-Term Analysis Positive?

July 14, 2018 - By Michael Garrison

Investors sentiment increased to 1.27 in Q1 2018. Its up 0.13, from 1.14 in 2017Q4. It improved, as 20 investors sold Southwest Gas Holdings, Inc. shares while 70 reduced holdings. 36 funds opened positions while 78 raised stakes. 38.76 million shares or 3.93% more from 37.29 million shares in 2017Q4 were reported.
First Mercantile Tru Co holds 0.02% in Southwest Gas Holdings, Inc. (NYSE:SWX) or 1,350 shares. Texas Permanent School Fund has invested 0.03% in Southwest Gas Holdings, Inc. (NYSE:SWX). Raymond James Assocs owns 6,459 shares or 0% of their US portfolio. Boyer And Corporon Wealth Mngmt Limited Company owns 51,691 shares. Parallax Volatility Advisers Limited Partnership reported 34 shares stake. Blackrock holds 0.02% of its portfolio in Southwest Gas Holdings, Inc. (NYSE:SWX) for 5.62M shares. Great West Life Assurance Can reported 0% stake. Walleye Trading Ltd Liability has 11,948 shares. Panagora Asset Mngmt holds 0.01% or 35,985 shares in its portfolio. Tompkins Fin Corp invested in 139 shares. Amer & Management Co invested 0.01% of its portfolio in Southwest Gas Holdings, Inc. (NYSE:SWX). Los Angeles Management And Equity Rech reported 0.01% in Southwest Gas Holdings, Inc. (NYSE:SWX). Voya Inv Mngmt Llc holds 0% or 20,914 shares in its portfolio. Rothschild Asset Mngmt has 0.13% invested in Southwest Gas Holdings, Inc. (NYSE:SWX). Brinker Capital invested 0.01% in Southwest Gas Holdings, Inc. (NYSE:SWX).

The stock of Southwest Gas Holdings, Inc. (SWX) formed an up wedge with $82.11 target or 3.00 % above today’s $79.72 share price. The 7 months wedge indicates low risk for the $3.86B company. If the $82.11 price target is reached, the company will be worth $115.65 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.45% or $0.36 during the last trading session, reaching $79.72. About 222,999 shares traded. Southwest Gas Holdings, Inc. (NYSE:SWX) has declined 7.51% since July 14, 2017 and is downtrending. It has underperformed by 20.08% the S&P500.

Analysts await Southwest Gas Holdings, Inc. (NYSE:SWX) to report earnings on August, 6. They expect $0.29 earnings per share, down 21.62 % or $0.08 from last year’s $0.37 per share. SWX’s profit will be $14.02M for 68.72 P/E if the $0.29 EPS becomes a reality. After $1.63 actual earnings per share reported by Southwest Gas Holdings, Inc. for the previous quarter, Wall Street now forecasts -82.21 % negative EPS growth.

Southwest Gas Holdings, Inc. (NYSE:SWX) Ratings Coverage

Among 4 analysts covering Southwest Gas Holdings (NYSE:SWX), 1 have Buy rating, 0 Sell and 3 Hold. Therefore 25% are positive. Southwest Gas Holdings had 4 analyst reports since March 2, 2018 according to SRatingsIntel. The stock has “Neutral” rating by Citigroup on Tuesday, March 27. The firm has “Neutral” rating given on Tuesday, June 5 by Bank of America. UBS maintained the shares of SWX in report on Friday, March 2 with “Buy” rating. Jefferies maintained it with “Hold” rating and $6900 target in Wednesday, March 28 report.

More news for Southwest Gas Holdings, Inc. (NYSE:SWX) were recently published by: Globenewswire.com, which released: “Southwest Gas President & CEO John P. Hester interviewed by Advisor Access” on June 19, 2018. Globenewswire.com‘s article titled: “Consolidated Research: 2018 Summary Expectations for KAR Auction Services, XPO Logistics, La-Z-Boy, Southwest …” and published on June 20, 2018 is yet another important article.

Southwest Gas Holdings, Inc. purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company has market cap of $3.86 billion. The firm operates through two divisions, Natural Gas Operations and Construction Services. It has a 19.73 P/E ratio. As of December 31, 2016, it had 1,984,000 residential, commercial, industrial, and other natural gas customers.

Southwest Gas Holdings, Inc. (NYSE:SWX) Ratings Chart

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