The company reaffirmed full-year 2026 guidance and said it continues to see progress on the Great Basin expansion.
The current average analyst rating on the shares is strong buy, with 9 strong buy or buy ratings, no hold ratings and no sell or strong sell ratings.
The average consensus recommendation for the natural gas utilities peer group is buy. Wall Street's median 12-month price target for Southwest Gas Holdings, Inc. is $98.00, about 10.1% above its August 4 closing price of $89.05. The stock recently traded at 19 times the next 12-month earnings versus a P/E of 21 three months ago.
Southwest Gas said second-quarter revenue declined and missed analyst expectations, while adjusted earnings per share matched estimates.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue |
| Miss |
| $358.2 mln |
| $416.20 mln (4 Analysts) |
| Q2 Adjusted EPS | Meet | $0.45 | $0.45 (6 Analysts) |
Southwest Gas said updated regulatory rates, especially in California, drove higher operating margin and incremental revenue. It also said net customer growth contributed to increased margin across all territories.
The company said increased contracted demand for the Great Basin 2028 project raised margin and capital investment expectations.
