Intrinsic value of Southwest Gas Holdings - SWX

Previous Close

$79.40

  Intrinsic Value

$65.98

stock screener

  Rating & Target

hold

-17%

Previous close

$79.40

 
Intrinsic value

$65.98

 
Up/down potential

-17%

 
Rating

hold

We calculate the intrinsic value of SWX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  19.70
  18.23
  16.91
  15.72
  14.64
  13.68
  12.81
  12.03
  11.33
  10.70
  10.13
  9.61
  9.15
  8.74
  8.36
  8.03
  7.72
  7.45
  7.21
  6.99
  6.79
  6.61
  6.45
  6.30
  6.17
  6.06
  5.95
  5.85
  5.77
  5.69
Revenue, $m
  3,051
  3,607
  4,217
  4,880
  5,594
  6,360
  7,174
  8,038
  8,948
  9,905
  10,908
  11,957
  13,051
  14,191
  15,378
  16,612
  17,895
  19,229
  20,614
  22,054
  23,551
  25,108
  26,727
  28,411
  30,165
  31,991
  33,895
  35,879
  37,949
  40,109
Variable operating expenses, $m
  2,074
  2,449
  2,860
  3,307
  3,788
  4,304
  4,853
  5,435
  6,049
  6,694
  7,352
  8,058
  8,796
  9,564
  10,364
  11,196
  12,061
  12,959
  13,893
  14,864
  15,873
  16,922
  18,013
  19,148
  20,330
  21,561
  22,844
  24,181
  25,576
  27,032
Fixed operating expenses, $m
  510
  521
  533
  544
  556
  569
  581
  594
  607
  620
  634
  648
  662
  677
  692
  707
  722
  738
  755
  771
  788
  805
  823
  841
  860
  879
  898
  918
  938
  959
Total operating expenses, $m
  2,584
  2,970
  3,393
  3,851
  4,344
  4,873
  5,434
  6,029
  6,656
  7,314
  7,986
  8,706
  9,458
  10,241
  11,056
  11,903
  12,783
  13,697
  14,648
  15,635
  16,661
  17,727
  18,836
  19,989
  21,190
  22,440
  23,742
  25,099
  26,514
  27,991
Operating income, $m
  467
  637
  824
  1,029
  1,250
  1,487
  1,740
  2,009
  2,292
  2,591
  2,922
  3,250
  3,593
  3,950
  4,322
  4,709
  5,112
  5,531
  5,966
  6,419
  6,890
  7,381
  7,891
  8,422
  8,975
  9,552
  10,153
  10,780
  11,435
  12,118
EBITDA, $m
  782
  1,007
  1,253
  1,522
  1,813
  2,125
  2,458
  2,810
  3,183
  3,575
  3,986
  4,416
  4,865
  5,334
  5,821
  6,329
  6,857
  7,406
  7,976
  8,570
  9,187
  9,829
  10,496
  11,192
  11,916
  12,671
  13,458
  14,278
  15,135
  16,029
Interest expense (income), $m
  67
  110
  157
  209
  266
  328
  395
  467
  543
  624
  709
  798
  892
  991
  1,093
  1,200
  1,311
  1,426
  1,546
  1,671
  1,801
  1,936
  2,076
  2,222
  2,373
  2,531
  2,695
  2,866
  3,044
  3,230
  3,424
Earnings before tax, $m
  357
  480
  615
  763
  922
  1,092
  1,273
  1,466
  1,669
  1,882
  2,124
  2,358
  2,602
  2,857
  3,122
  3,399
  3,686
  3,985
  4,295
  4,618
  4,955
  5,305
  5,669
  6,049
  6,444
  6,857
  7,287
  7,736
  8,205
  8,695
Tax expense, $m
  96
  130
  166
  206
  249
  295
  344
  396
  451
  508
  573
  637
  703
  771
  843
  918
  995
  1,076
  1,160
  1,247
  1,338
  1,432
  1,531
  1,633
  1,740
  1,851
  1,967
  2,089
  2,215
  2,348
Net income, $m
  260
  350
  449
  557
  673
  797
  930
  1,070
  1,218
  1,374
  1,550
  1,721
  1,900
  2,086
  2,279
  2,481
  2,691
  2,909
  3,136
  3,371
  3,617
  3,872
  4,138
  4,416
  4,704
  5,005
  5,319
  5,647
  5,990
  6,347

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,459
  8,819
  10,310
  11,931
  13,678
  15,549
  17,541
  19,652
  21,878
  24,218
  26,670
  29,234
  31,909
  34,697
  37,598
  40,616
  43,754
  47,014
  50,402
  53,923
  57,583
  61,388
  65,346
  69,465
  73,752
  78,218
  82,872
  87,724
  92,785
  98,067
Adjusted assets (=assets-cash), $m
  7,459
  8,819
  10,310
  11,931
  13,678
  15,549
  17,541
  19,652
  21,878
  24,218
  26,670
  29,234
  31,909
  34,697
  37,598
  40,616
  43,754
  47,014
  50,402
  53,923
  57,583
  61,388
  65,346
  69,465
  73,752
  78,218
  82,872
  87,724
  92,785
  98,067
Revenue / Adjusted assets
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
Average production assets, $m
  5,235
  6,190
  7,236
  8,374
  9,600
  10,913
  12,311
  13,792
  15,355
  16,997
  18,718
  20,517
  22,395
  24,352
  26,388
  28,506
  30,708
  32,996
  35,374
  37,845
  40,414
  43,085
  45,863
  48,753
  51,763
  54,897
  58,163
  61,569
  65,121
  68,828
Working capital, $m
  46
  54
  63
  73
  84
  95
  108
  121
  134
  149
  164
  179
  196
  213
  231
  249
  268
  288
  309
  331
  353
  377
  401
  426
  452
  480
  508
  538
  569
  602
Total debt, $m
  2,905
  3,869
  4,926
  6,075
  7,314
  8,640
  10,053
  11,549
  13,128
  14,786
  16,525
  18,343
  20,240
  22,216
  24,273
  26,413
  28,637
  30,949
  33,351
  35,847
  38,442
  41,140
  43,946
  46,867
  49,907
  53,073
  56,372
  59,813
  63,401
  67,146
Total liabilities, $m
  5,289
  6,253
  7,310
  8,459
  9,698
  11,024
  12,437
  13,933
  15,511
  17,170
  18,909
  20,727
  22,624
  24,600
  26,657
  28,797
  31,021
  33,333
  35,735
  38,231
  40,826
  43,524
  46,330
  49,250
  52,290
  55,457
  58,756
  62,196
  65,785
  69,529
Total equity, $m
  2,171
  2,566
  3,000
  3,472
  3,980
  4,525
  5,105
  5,719
  6,366
  7,047
  7,761
  8,507
  9,286
  10,097
  10,941
  11,819
  12,732
  13,681
  14,667
  15,692
  16,757
  17,864
  19,016
  20,214
  21,462
  22,762
  24,116
  25,528
  27,001
  28,537
Total liabilities and equity, $m
  7,460
  8,819
  10,310
  11,931
  13,678
  15,549
  17,542
  19,652
  21,877
  24,217
  26,670
  29,234
  31,910
  34,697
  37,598
  40,616
  43,753
  47,014
  50,402
  53,923
  57,583
  61,388
  65,346
  69,464
  73,752
  78,219
  82,872
  87,724
  92,786
  98,066
Debt-to-equity ratio
  1.340
  1.510
  1.640
  1.750
  1.840
  1.910
  1.970
  2.020
  2.060
  2.100
  2.130
  2.160
  2.180
  2.200
  2.220
  2.230
  2.250
  2.260
  2.270
  2.280
  2.290
  2.300
  2.310
  2.320
  2.330
  2.330
  2.340
  2.340
  2.350
  2.350
Adjusted equity ratio
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  260
  350
  449
  557
  673
  797
  930
  1,070
  1,218
  1,374
  1,550
  1,721
  1,900
  2,086
  2,279
  2,481
  2,691
  2,909
  3,136
  3,371
  3,617
  3,872
  4,138
  4,416
  4,704
  5,005
  5,319
  5,647
  5,990
  6,347
Depreciation, amort., depletion, $m
  315
  370
  429
  494
  563
  638
  717
  802
  890
  984
  1,064
  1,166
  1,272
  1,384
  1,499
  1,620
  1,745
  1,875
  2,010
  2,150
  2,296
  2,448
  2,606
  2,770
  2,941
  3,119
  3,305
  3,498
  3,700
  3,911
Funds from operations, $m
  576
  720
  878
  1,050
  1,236
  1,435
  1,647
  1,872
  2,109
  2,358
  2,614
  2,887
  3,172
  3,469
  3,779
  4,101
  4,435
  4,783
  5,145
  5,522
  5,913
  6,320
  6,744
  7,186
  7,645
  8,125
  8,624
  9,146
  9,690
  10,258
Change in working capital, $m
  8
  8
  9
  10
  11
  11
  12
  13
  14
  14
  15
  16
  16
  17
  18
  19
  19
  20
  21
  22
  22
  23
  24
  25
  26
  27
  29
  30
  31
  32
Cash from operations, $m
  568
  712
  869
  1,040
  1,225
  1,424
  1,635
  1,859
  2,095
  2,343
  2,599
  2,871
  3,156
  3,452
  3,761
  4,082
  4,416
  4,763
  5,125
  5,500
  5,891
  6,297
  6,720
  7,160
  7,619
  8,097
  8,596
  9,116
  9,659
  10,225
Maintenance CAPEX, $m
  -249
  -297
  -352
  -411
  -476
  -545
  -620
  -700
  -784
  -872
  -966
  -1,064
  -1,166
  -1,272
  -1,384
  -1,499
  -1,620
  -1,745
  -1,875
  -2,010
  -2,150
  -2,296
  -2,448
  -2,606
  -2,770
  -2,941
  -3,119
  -3,305
  -3,498
  -3,700
New CAPEX, $m
  -860
  -954
  -1,047
  -1,137
  -1,226
  -1,313
  -1,398
  -1,481
  -1,562
  -1,642
  -1,721
  -1,799
  -1,878
  -1,957
  -2,037
  -2,118
  -2,202
  -2,288
  -2,378
  -2,471
  -2,569
  -2,671
  -2,778
  -2,891
  -3,009
  -3,134
  -3,266
  -3,405
  -3,552
  -3,707
Cash from investing activities, $m
  -1,109
  -1,251
  -1,399
  -1,548
  -1,702
  -1,858
  -2,018
  -2,181
  -2,346
  -2,514
  -2,687
  -2,863
  -3,044
  -3,229
  -3,421
  -3,617
  -3,822
  -4,033
  -4,253
  -4,481
  -4,719
  -4,967
  -5,226
  -5,497
  -5,779
  -6,075
  -6,385
  -6,710
  -7,050
  -7,407
Free cash flow, $m
  -541
  -540
  -529
  -508
  -477
  -435
  -383
  -322
  -251
  -171
  -88
  8
  112
  223
  341
  465
  595
  730
  872
  1,019
  1,172
  1,330
  1,494
  1,664
  1,840
  2,022
  2,210
  2,406
  2,608
  2,819
Issuance/(repayment) of debt, $m
  866
  964
  1,057
  1,149
  1,239
  1,327
  1,412
  1,496
  1,578
  1,659
  1,739
  1,818
  1,897
  1,977
  2,057
  2,140
  2,224
  2,312
  2,402
  2,496
  2,595
  2,698
  2,806
  2,920
  3,040
  3,166
  3,300
  3,440
  3,588
  3,745
Issuance/(repurchase) of shares, $m
  96
  45
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  962
  1,009
  1,057
  1,149
  1,239
  1,327
  1,412
  1,496
  1,578
  1,659
  1,739
  1,818
  1,897
  1,977
  2,057
  2,140
  2,224
  2,312
  2,402
  2,496
  2,595
  2,698
  2,806
  2,920
  3,040
  3,166
  3,300
  3,440
  3,588
  3,745
Total cash flow (excl. dividends), $m
  421
  469
  528
  641
  762
  892
  1,029
  1,174
  1,327
  1,488
  1,651
  1,826
  2,009
  2,200
  2,398
  2,604
  2,819
  3,042
  3,274
  3,515
  3,767
  4,028
  4,300
  4,584
  4,880
  5,188
  5,510
  5,846
  6,197
  6,563
Retained Cash Flow (-), $m
  -356
  -396
  -434
  -472
  -508
  -545
  -580
  -614
  -648
  -681
  -714
  -746
  -779
  -811
  -844
  -878
  -913
  -949
  -986
  -1,025
  -1,065
  -1,107
  -1,152
  -1,199
  -1,248
  -1,300
  -1,354
  -1,412
  -1,473
  -1,537
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  66
  74
  94
  169
  254
  347
  449
  560
  679
  807
  937
  1,080
  1,231
  1,388
  1,554
  1,726
  1,906
  2,093
  2,288
  2,491
  2,702
  2,921
  3,149
  3,385
  3,632
  3,888
  4,156
  4,434
  4,724
  5,026
Discount rate, %
  8.00
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
PV of cash for distribution, $m
  61
  63
  73
  119
  160
  194
  220
  239
  249
  250
  244
  232
  215
  194
  171
  147
  124
  101
  81
  63
  47
  35
  25
  17
  12
  8
  5
  3
  2
  1
Current shareholders' claim on cash, %
  97.6
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7

Southwest Gas Holdings, Inc., formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company's subsidiary, Centuri Construction Group, Inc. (Centuri). The Company operates two pipeline transmission systems, such as a system, which includes a liquefied natural gas (LNG) storage facility owned by Paiute extending from the Idaho-Nevada border to the Reno, Sparks, and Carson City areas and communities in the Lake Tahoe area in both California and Nevada and other communities in northern and western Nevada, and a system extending from the Colorado River at the southern tip of Nevada to the Las Vegas distribution area.

FINANCIAL RATIOS  of  Southwest Gas Holdings (SWX)

Valuation Ratios
P/E Ratio 24.8
Price to Sales 1.5
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow 6.3
Price to Free Cash Flow 55.4
Growth Rates
Sales Growth Rate -0.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 8.6%
Cap. Spend. - 3 Yr. Gr. Rate 7.8%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 93.2%
Total Debt to Equity 96.2%
Interest Coverage 4
Management Effectiveness
Return On Assets 3.6%
Ret/ On Assets - 3 Yr. Avg. 3.6%
Return On Total Capital 4.7%
Ret/ On T. Cap. - 3 Yr. Avg. 4.6%
Return On Equity 9.3%
Return On Equity - 3 Yr. Avg. 9.3%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 23.9%
EBITDA Margin - 3 Yr. Avg. 24%
Operating Margin 12%
Oper. Margin - 3 Yr. Avg. 12.4%
Pre-Tax Margin 9.4%
Pre-Tax Margin - 3 Yr. Avg. 9.6%
Net Profit Margin 6.2%
Net Profit Margin - 3 Yr. Avg. 6.1%
Effective Tax Rate 34.1%
Eff/ Tax Rate - 3 Yr. Avg. 35.5%
Payout Ratio 54.6%

SWX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SWX stock intrinsic value calculation we used $2548.792 million for the last fiscal year's total revenue generated by Southwest Gas Holdings. The default revenue input number comes from 0001 income statement of Southwest Gas Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SWX stock valuation model: a) initial revenue growth rate of 19.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8%, whose default value for SWX is calculated based on our internal credit rating of Southwest Gas Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Southwest Gas Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SWX stock the variable cost ratio is equal to 68.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $499 million in the base year in the intrinsic value calculation for SWX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Southwest Gas Holdings.

Corporate tax rate of 27% is the nominal tax rate for Southwest Gas Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SWX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SWX are equal to 171.6%.

Life of production assets of 17.6 years is the average useful life of capital assets used in Southwest Gas Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SWX is equal to 1.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1814.768 million for Southwest Gas Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 49.134 million for Southwest Gas Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Southwest Gas Holdings at the current share price and the inputted number of shares is $3.9 billion.

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COMPANY NEWS

▶ Southwest Gas Holdings, Inc. Announces Conference Call   [Aug-09-18 05:00AM  PR Newswire]
▶ Southwest Gas: 2Q Earnings Snapshot   [06:40PM  Associated Press]
▶ Southwest Gas Holdings, Inc. Announces Conference Call   [Aug-02-18 05:00PM  PR Newswire]
▶ Southwest Gas Holdings, Inc. Announces Conference Call   [May-08-18 05:00AM  PR Newswire]
▶ Southwest Gas: 1Q Earnings Snapshot   [May-07-18 06:10PM  Associated Press]
▶ Southwest Gas Holdings, Inc. Announces Conference Call   [May-01-18 06:00PM  PR Newswire]
▶ Southwest Gas Holdings, Inc. Announces Conference Call   [Mar-01-18 05:00PM  PR Newswire]
▶ Southwest Gas posts 4Q profit   [05:04AM  Associated Press]
▶ Southwest Gas Holdings, Inc. Announces 2017 Earnings   [Feb-27-18 05:00PM  PR Newswire]
▶ February Dividend Stock Picks   [Feb-26-18 08:02AM  Simply Wall St.]
▶ Southwest Gas Holdings, Inc. Announces Conference Call   [Feb-22-18 05:00PM  PR Newswire]
▶ Southwest Gas Holdings, Inc. to Host Earnings Call   [Nov-08-17 11:00AM  ACCESSWIRE]
▶ Southwest Gas beats 3Q profit forecasts   [Nov-07-17 09:33AM  Associated Press]
▶ Southwest Gas Holdings, Inc. Announces Conference Call   [Nov-01-17 05:00PM  PR Newswire]
▶ What's fueling an ethanol plant's expensive fight with Southwest Gas   [Sep-05-17 06:46PM  American City Business Journals]
▶ Southwest Gas beats 2Q profit forecasts   [Aug-07-17 11:47PM  Associated Press]
▶ Southwest Gas Holdings, Inc. Announces Conference Call   [Aug-02-17 05:00PM  PR Newswire]
▶ $10M fight over gas pipeline to ethanol plant   [May-18-17 02:15PM  American City Business Journals]
▶ Southwest Gas Holdings, Inc. Announces Conference Call   [May-10-17 05:00AM  PR Newswire]
▶ Southwest Gas misses 1Q profit forecasts   [May-08-17 05:42PM  Associated Press]

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