Southwest Gas Ho Stock Price, News & Analysis

Southwest Gas Holdings (NYSE: SWX) announced that Icahn Enterprises LP has initiated an unsolicited tender offer to purchase all outstanding shares for $75.00 per share in cash. The Board of Directors is currently reviewing the offer to determine the best course of action for shareholders. A formal position regarding the tender will be disclosed within 10 business days through a Solicitation/Recommendation Statement. Shareholders are advised to refrain from taking any action until the Board's evaluation is complete.

Southwest Gas Holdings (NYSE: SWX) has responded to a letter from Carl Icahn, emphasizing its commitment to engage with shareholders. The Board will evaluate any possible tender offer from Icahn Enterprises with financial and legal advisors to protect stockholder interests. On October 10, 2021, the company implemented a short-term stockholder rights plan to deter unwanted control changes. Icahn's intention to nominate a full slate of directors for the 2022 Annual Meeting will be addressed by the company in due course.

Southwest Gas Holdings (SWX) issued a response letter to investor Carl Icahn, addressing concerns raised in his October 4 letter. The company defends its acquisition of Questar Pipelines, asserting it provides diversified cash flows and reduces earnings volatility. The deal is projected to be accretive to earnings in 2022 and is valued at 9.8x estimated 2021 EBITDA after tax adjustments. Southwest Gas emphasizes that their regulatory relationships are strong and that their strategic plan aims to enhance shareholder value.

Southwest Gas Holdings (NYSE: SWX) announced the adoption of a short-term stockholder rights plan on October 10, 2021, aimed at protecting shareholder interests against potential hostile takeovers. The board's decision comes in response to disclosures by activist investor Carl Icahn, who reported beneficial ownership of the company's shares and intends to engage in a proxy contest. The rights plan, effective for 364 days, allows shareholders to buy common stock at a discount if a person or group acquires 10% or more of shares without board approval, ensuring the board can fulfill its fiduciary duties and maintain long-term value.

Southwest Gas Holdings (SWX) announced the acquisition of Dominion Energy Questar Pipeline for $1.545 billion in cash, along with assuming $430 million in debt. The acquisition targets a strategic enhancement in the Rocky Mountain region, adding 2,160 miles of FERC-regulated pipelines. Expected to close by December 31, 2021, the deal aims to be accretive to earnings per share in 2022, providing increased cash flow and value for shareholders. The transaction marks a significant step in Southwest Gas's energy transition strategy.

Southwest Gas Holdings (NYSE: SWX) has declared a fourth-quarter cash dividend of $0.595 per share, payable on December 1, 2021, with a record date of November 15, 2021. This dividend translates to an annualized amount of $2.38 per share. The company has maintained a consistent track record of quarterly dividends since becoming public in 1956. Southwest Gas provides natural gas services to over two million customers in Arizona, Nevada, and California, while also offering utility infrastructure services through its Centuri Group segment.

Southwest Gas Holdings, Inc. (NYSE: SWX) has announced a conference call on August 6, 2021, to discuss its 2021 Q2 and 12-month results. The call will follow the earnings release on August 5, 2021. Interested parties can participate via telephone or join the live webcast on the company’s website. For those unable to attend live, a digital replay will be available after the call. Key details include the call time at 1:00 P.M. (ET), with participation numbers provided. The archived call will remain accessible until August 13, 2021.

Southwest Gas Holdings (SWX) reported Q2 2021 earnings of $0.43 per diluted share, down from $0.68 in Q2 2020.

Net income fell to $25.1 million from $38 million the previous year, with the natural gas segment contributing $11.4 million and utility infrastructure services $15.1 million.

Despite a $54 million increase in operating margin year-over-year, expenses rose, including a 4% increase in operations and maintenance costs. The company anticipates 2021 diluted EPS guidance of $4.00 to $4.20, excluding the impact of the planned acquisition of Riggs Distler.

Southwest Gas Holdings, Inc. (NYSE: SWX) will host a conference call to discuss its 2021 second quarter and twelve-month results on August 6, 2021, at 1:00 P.M. (ET). The call will follow the earnings release scheduled for August 5, 2021. Interested parties can join the live webcast on the company's website or participate via telephone, with options for domestic and international calls. A digital replay of the conference call will be accessible starting at 4:30 P.M. (ET) on the same day and will remain available until August 13, 2021.