Welcome to our dedicated page for Southwest Gas Ho news (Ticker: SWX), a resource for investors and traders seeking the latest updates and insights on Southwest Gas Ho stock.
Southwest Gas Holdings, Inc. (NYSE: SWX) news covers developments at a regulated natural gas company whose primary business, through Southwest Gas Corporation, is purchasing, distributing, and transporting natural gas to more than 2 million customers in Arizona, Nevada, and California. Company announcements highlight how this utility manages growth in high-demand service territories, regulatory proceedings, and capital investment plans.
Investors and observers following SWX news will find updates on earnings results, customer growth, rate case activity, and regulatory outcomes that affect operating margin and returns. Recent releases have discussed improved net income from continuing operations, changes in credit ratings, and the impact of updated rates and capital investments across the company’s territories.
Corporate and governance news is also a recurring theme. Southwest Gas Holdings reports on board-level matters, cooperation agreements with the Icahn Group, registration rights arrangements, and senior leadership changes, including transitions in the Chief Financial Officer role. These items provide insight into the company’s strategic direction, shareholder relationships, and oversight structure.
Another important category of SWX news relates to the company’s separation from Centuri Holdings, Inc. and its transformation into a fully regulated natural gas business. Filings and press releases describe public offerings and private placements of Centuri common stock, the resulting deconsolidation of Centuri’s financial results, and the use of proceeds to repay holding company debt.
Operationally focused news includes updates from Great Basin Gas Transmission Company, a wholly owned subsidiary of Southwest Gas Corporation. Coverage has addressed open seasons and binding precedent agreements for a proposed 2028 expansion project intended to increase natural gas transportation capacity in Northern Nevada, subject to FERC approval. Bookmark this page to monitor ongoing financial, regulatory, infrastructure, and governance developments affecting Southwest Gas Holdings and its utility operations.
Southwest Gas Holdings, Inc. (SWX) will host a conference call to discuss its 2021 fourth quarter and annual results on March 2, 2022, at 1:00 P.M. (ET). This follows the earnings report scheduled for March 1, 2022. Investors can join the call via telephone at (877) 419-3678 or (614) 610-1910 internationally; the conference ID is 7668616. If missed, a digital replay will be available from 4:30 P.M. (ET) on March 2 until 4:30 P.M. (ET) on March 9. The call can also be accessed on their website.
Southwest Gas Holdings (NYSE: SWX) confirms that Carl Icahn's affiliate extended its tender offer to acquire shares at $75.00 each. The Board of Directors has rejected the unsolicited offer, deeming it inadequate and contingent on ambiguous conditions. Southwest Gas believes the offer undervalues the company and lacks certainty of completion. Moreover, Icahn's revised offer requires control of the Board, raising concerns about his true intentions. The Board emphasizes its commitment to enhancing shareholder value and is advised by Lazard and Moelis & Company.
Southwest Gas is transitioning natural gas service for 5,300 customers in Graham County from Graham County Utilities Inc. (GCU), starting January 18, 2022. This move is approved by the Arizona Corporation Commission, enhancing Southwest Gas's customer base to over one million in Arizona. Customers will maintain their current GCU rates until the conclusion of Southwest Gas's general rate case application. Southwest Gas plans to establish a local operation facility and has introduced a payment kiosk for customer convenience. The company focuses on delivering safe and reliable service.
On December 31, 2021, Southwest Gas Holdings completed the acquisition of Dominion Energy Quester Pipeline and its subsidiaries, now operating under the new subsidiary MountainWest Pipelines Holding Company. This acquisition, encompassing 2,160 miles of FERC-regulated natural gas pipelines, is expected to benefit earnings per share in 2022. The leadership will be under Colleen Larkin Bell, bringing over 30 years of industry experience. The company aims to leverage growth opportunities and enhance its role in the evolving energy landscape through this strategic expansion.
Dominion Energy (NYSE: D) announced the successful closing of the $1.975 billion sale of Questar Pipelines to Southwest Gas Holdings (NYSE: SWX). The deal, finalized on December 31, 2021, includes the assumption of $430 million in debt. Questar Pipelines features FERC-regulated transportation and underground storage assets located in Utah, Wyoming, and Colorado. This sale is part of Dominion Energy's strategy to streamline operations and focus on sustainable energy.
Southwest Gas Holdings (SWX) confirmed that Carl Icahn's affiliate extended its tender offer to acquire shares at $75.00 each. In response, the company's Board rejected the offer, deeming it inadequate and coercive. They urge stockholders to not tender their shares, stating that the offer undervalues the company and is contingent on ambiguous conditions. The Board emphasizes its commitment to long-term value creation and has involved external advisors in the evaluation process.
Southwest Gas Holdings (NYSE: SWX) announced that the Delaware Court of Chancery denied Icahn Partners' motion for a temporary restraining order, allowing the company to proceed with permanent financing for its acquisition of Dominion Energy Questar Pipeline. The Board of Directors recommended that shareholders reject Icahn's tender offer, labeling it as inadequate and coercive. This ruling strengthens Southwest Gas's position in the ongoing acquisition and financing efforts.
Southwest Gas has received approval from the Arizona Corporation Commission for the transition of natural gas service in Graham County from Graham County Utilities Inc. (GCU) to Southwest Gas, effective early January. This move follows GCU's October 2020 decision to sell its gas distribution system to Southwest Gas for modernization, enhanced safety, and regulatory compliance. The company promises safe, reliable, and affordable service to GCU customers, along with access to various assistance programs.
Southwest Gas Holdings, Inc. (NYSE: SWX) has declared a cash dividend of $0.595 per share for the first quarter of 2022, payable on March 1, 2022. Shareholders on record as of February 15, 2022 will receive the dividend. This annualizes to $2.38 per share, reflecting the company's commitment to returning value, having paid quarterly dividends since 1956. The company operates through two segments: Southwest Gas Corporation, serving over two million customers in Arizona, Nevada, and California, and Centuri Group, Inc., offering utility infrastructure services.
Southwest Gas Holdings has announced the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period, which allows the company to proceed with its acquisition of Dominion Energy Questar Pipeline and its affiliates. This acquisition is expected to close on or before December 31, 2021, pending other customary closing conditions. The transaction will enhance Southwest Gas's capabilities in natural gas distribution and infrastructure services across North America, and is anticipated to provide significant operational synergies.