| Over a month ago | ||||
Reports Q4 revenue… Reports Q4 revenue $914.08M, consensus $887.98M. | ||||
Southwest Gas has… Southwest Gas has increased the quarterly common stock dividend from 57c per share to 59.5c per share payable on June 1to shareholders of record May 17. The dividend equates to a 4.4% increase, on an annualized basis. | ||||
Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ford (F) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Adam Jonas saying based on his assessment of the regulatory, technological and economic factors driving de-carbonization - including his expectations of the rapidly declining cost of electric vehicles and rapidly rising cost of internal combustion engines and cost of ownership - he believes that internal combustion engine technology is "worth near zero today " and "could potentially crystallize into a net liability," particularly for Ford. 2. Jazz Pharmaceuticals (JAZZ) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Risinger saying ahead of a coming readout from "potential competitor" Takeda's (TAK) Phase 2 narcolepsy/cataplexy trial of drug candidate TAK-994, he sees a "potentially significant competitive threat to Xyrem/Xywav" that TAK-994 may pose for what he now views as a more balanced risk-reward. 3. Lexicon (LXRX) downgraded to Neutral from Outperform at Wedbush with analyst Liana Moussatos saying she expects a potential partner to take a wait-and-see approach to the upcoming Farxiga data, possibly positioning the timing of a partnership announcement in Q2. 4. Harley-Davidson (HOG) downgraded to Neutral from Buy at Northcoast. 5. Southwest Gas (SWX) downgraded to Neutral from Overweight at JPMorgan with analyst Richard Sunderland seeing regulatory risk following Southwest's recent Arizona rate case order. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||
JPMorgan analyst Richard… JPMorgan analyst Richard Sunderland downgraded Southwest Gas to Neutral from Overweight with a $63 price target. The analyst sees regulatory risk following Southwest's recent Arizona rate case order. Modifications to the final rate order leave the company exposed to greater day one regulatory lag, limit its ongoing capital recovery following the rate case, and likely accelerate its next Arizona rate case versus prior assumptions, Sunderland tells investors in a research note. He notes that Arizona is Southwest's largest jurisdiction, representing 53% of gas utility operating margin. | |
JPMorgan analyst Richard… JPMorgan analyst Richard Sunderland downgraded Southwest Gas to Neutral from Overweight with a $63 price target. |
| Over a quarter ago | ||||
BofA analyst Richard… BofA analyst Richard Ciciarelli downgraded Southwest Gas to Underperform from Neutral with a $60 price target. The analyst is citing the outcome of the Arizona rate case, in which the ACC moved to a post-test year-plant of 6-months from 11-months, cut the $20M per year Customer-Owned Yard Line program in half, and disallowed the $100M per year of Vintage Steel Pipe program rider capital spending. Ciciarelli adds that since Southwest Gas management has recently stated that it has no plans to reduce capital spending or change its "regulatory filing cadence", he sees a "clear downside" to the company's earnings outlook. | ||||
BofA analyst Dennis… BofA analyst Dennis Coleman downgraded Southwest Gas to Underperform from Neutral with a $60 price target. | ||||