Southwest Gas Ho Stock Price, News & Analysis

Southwest Gas Holdings (NYSE: SWX) has priced its upsized secondary public offering of Centuri Holdings (NYSE: CTRI) common stock at $20.75 per share. The offering size was increased to 9.75 million shares from the originally proposed 9.5 million shares, with an additional 30-day option for underwriters to purchase up to 1.46 million more shares. The offering is expected to close on June 18, 2025. Additionally, Southwest Gas Holdings plans to sell $22 million worth of Centuri shares to Carl Icahn-affiliated investment entities in a concurrent private placement at the same price per share, subject to antitrust approvals and other conditions. The private placement must close by July 9, 2025, or it will terminate. J.P. Morgan and Wells Fargo Securities are leading the offering as joint book-running managers, with several other financial institutions participating in various roles.

Southwest Gas Holdings (NYSE: SWX) has announced a secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, offering 9.5 million existing shares with an additional 30-day option for underwriters to purchase up to 1.425 million more shares. Additionally, SWX has agreed to sell $22 million worth of Centuri shares to Carl Icahn-affiliated investment entities in a concurrent private placement, subject to antitrust approvals and other conditions. The private placement must close by July 9, 2025, and will be priced equal to the public offering. The offering will be made through an effective shelf registration statement filed with the SEC, with the public offering not being contingent on the private placement's completion.

Southwest Gas Holdings (NYSE: SWX) announced successful closure of Great Basin Gas Transmission Company's 2028 Expansion Project Binding Open Season, revealing strong demand for expanded firm transportation service in Northern Nevada. The project estimates incremental capacity of 1.25 billion cubic feet per day, with minimum twenty-year term agreements and potential capital investment of $800 million to $1.2 billion. The expansion aims to enhance Great Basin's existing 898-mile transmission system, with anticipated expansion rates between $14-$17 per Dth per month. The project's completion is subject to successful negotiation of precedent agreements by Q3 2025 and FERC approval. The company notes these estimated impacts are not reflected in their 2025 guidance.

Southwest Gas Holdings (NYSE: SWX) has completed its secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, selling 10.35 million shares at $17.50 per share. Additionally, Icahn Partners purchased 2.86 million shares through a private placement at the same price. The company received approximately $175 million in net proceeds from the offering and $50 million from the private placement, totaling $225 million. The proceeds will be used to repay outstanding debt. After these transactions, Southwest Gas Holdings maintains a 65.9% ownership stake in Centuri.

Southwest Gas Holdings (NYSE: SWX) has announced a secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, offering 9,000,000 existing shares with an option for underwriters to purchase an additional 1,350,000 shares. Additionally, Icahn Partners and Icahn Partners Master Fund LP, affiliated with Carl C. Icahn, will purchase $50 million worth of Centuri shares in a concurrent private placement at the same price as the public offering.

The private placement is expected to close immediately after the public offering, subject to customary conditions. The offering will be made through an effective shelf registration statement filed with the SEC, with a preliminary prospectus supplement to be filed.

["Potential significant cash influx from the sale of 9 million shares plus possible 1.35 million additional shares", "Secured $50 million private placement deal with Icahn Partners", "Strategic divestment aligns with company's portfolio optimization"]

Southwest Gas Holdings (NYSE: SWX) reported strong Q1 2025 financial results. The company achieved net income of $113.87 million ($1.58 per diluted share), a significant improvement from $87.7 million in Q1 2024. Key highlights include:

The Natural Gas Distribution segment saw an 8.2% return on equity over the last twelve months, with a notable $80.2 million annual revenue increase approved in Arizona, including an increased allowed ROE of 9.84%. Customer growth remained strong with approximately 40,000 new meter sets added, representing a 1.8% growth rate.

The company maintains strong liquidity with $406 million cash on hand and over $1.0 billion in available liquidity. Southwest Gas reaffirmed its 2025 guidance, projecting net income of $265-275 million and capital expenditures of ~$880 million. The company remains committed to fully separating its Centuri utility infrastructure services business to become a pure-play utility.

Southwest Gas Holdings (NYSE: SWX) has rescheduled its Q1 2025 earnings release and conference call from May 7 to May 12, 2025, at 11:00 AM ET. The company has affirmed its financial guidance for Southwest Gas Corporation, projecting 2025 net income between $265-$275 million and capital expenditures of approximately $880 million for customer growth and system improvements.

The company maintains its 2025-2029 outlook with projected adjusted net income CAGR of 6.0-8.0%, total capital expenditures of $4.3 billion, and rate base CAGR of 6.0-8.0%. Southwest Gas Holdings also noted it owns approximately 81% of Centuri Holdings, which separately affirmed its 2025 outlook.

Southwest Gas Holdings (NYSE: SWX) has announced the election of Brian E. Sandoval to its Board of Directors. Sandoval, currently serving as President of the University of Nevada, Reno, brings significant legal, regulatory, and corporate leadership experience to the company. His extensive background includes serving as Nevada's Governor (2011-2019), federal judge, Nevada Attorney General, and Chairman of the Nevada Gaming Commission.

The appointment aligns with Southwest Gas's strategy of transforming into a premier, fully regulated natural gas utility. Board Chair E. Renae Conley highlighted Sandoval's deep ties to the southwest region and proven leadership as valuable assets for the company's future growth and service excellence initiatives.

Southwest Gas Holdings has announced its third quarter 2025 dividend payment. The company's Board of Directors declared a quarterly cash dividend of $0.62 per share, payable on September 2, 2025, to stockholders of record as of August 15, 2025.

The dividend translates to an annualized rate of $2.48 per share. Southwest Gas has maintained an impressive track record of continuous quarterly dividend payments since its public listing in 1956.

Based in Las Vegas, Nevada, Southwest Gas serves over 2 million customers across Arizona, Nevada, and California through its main subsidiary Southwest Gas Corporation. The company focuses on natural gas distribution and transportation while pursuing sustainable energy solutions. Additionally, it holds a majority stake in Centuri Holdings, which provides utility infrastructure services throughout North America.