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Southwest Gas Holdings Inc

Southwest Gas Holdings Inc

SWX
$92.06USD↓-0.96%-0.89 today

MARKET CAP

6.7B

P/E (TTM)

15.1x

FWD P/E

—

DAY RANGE

$92 – $94

52W RANGE

$76
$94

AI Summary

Stalk
StalkMedium

Despite sustained long-term uptrend and a recent momentum breakout confirming medium-term bullish structure, price is currently extended above key EMAs and near overbought levels. We defer new entries, awaiting a pullback into the prior resistance-turned-support zone around the 9/21 EMA area to confirm continued demand before engaging.

  • ↑Adjusted EPS +19% YoY to $1.91, driven by rate relief.
  • ↑Net customer additions +1%; service‐area population set to grow 5%.
  • ↓Negative growth and profitability factors signal weak earnings stability.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Southwest Gas Holdings, Inc. (NYSE: SWX) operates as a leading regulated natural gas utility primarily serving residential, commercial, and industrial customers across Arizona, Nevada, and California. The company is undergoing a strategic transition towards a fully regulated structure while emphasizing operational excellence and customer satisfaction. The recent focus on infrastructure growth, particularly through the Great Basin Expansion Project, positions the company well within the energy sector to benefit from increasing demand for natural gas.

Bull says

  • ↑Adjusted EPS +19% YoY to $1.91, driven by rate relief.
  • ↑Net customer additions +1%; service‐area population set to grow 5%.
  • ↑$4.3B capex plan over five years for safety and reliability.
  • ↑SB 417 rate‐making reforms in AZ/NV enhance revenue predictability.
  • ↑Great Basin expansion eightfold oversubscribed, signaling strong demand.
  • ↑High earnings yield and 1.9% dividend yield; lower interest costs boost FCF.

Bear says

  • ↓Negative growth and profitability factors signal weak earnings stability.
  • ↓O&M expenses +$16.8M YoY, squeezing operating margins.
  • ↓$1.25B capex in 2026 raises execution risk if demand falters.
  • ↓Low institutional ownership reflects limited confidence in outlook.
  • ↓California rate‐case delays hit Q1 results, slowing recoveries.
  • ↓Q1 execution delays highlight timeline risk for expansion projects.

Investment themes with SWX

High Dividend Yield↑ +0.32%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q1 2025 · Mgmt. Guidance

Updated 06-03-2026neutral

Transcript signals

Bull points

  • $38.9 million
  • $27 million
  • $5 million

Bear points

  • Deferred purchase gas costs flipped from a receivable balance for customers of nearly $200 million in March of 2024 to a net liability balance of over $280 million at the end of March of 2025.
  • Interest expense at the utility increased by $8.2 million, primarily due to interest incurred on the now over-collected balance of the PGA.
  • $280 million
Read full transcript analysis ›