Welcome to our dedicated page for Southwest Gas Holdings news (Ticker: SWX), a resource for investors and traders seeking the latest updates and insights on Southwest Gas Holdings stock.
Southwest Gas Holdings, Inc. (NYSE: SWX) is a prominent utility company headquartered in Las Vegas, Nevada. Established in 1931, the company, through its subsidiaries, is engaged in the purchasing, distributing, and transporting of natural gas across Arizona, Nevada, and California. Serving over 2 million residential, commercial, and industrial customers, Southwest Gas Holdings ensures the safe and reliable provision of natural gas.
The company operates through two main segments: Natural Gas Operations and Utility Infrastructure Services. The Natural Gas Operations segment encompasses the core business of distributing natural gas, generating half of the company’s revenue primarily from residential and small commercial customers. The Utility Infrastructure Services segment, managed by the subsidiary Centuri Group Inc., contributes the other half of the revenue by providing underground piping contractor services and industrial construction solutions across North America.
As of December 31, 2019, Southwest Gas Holdings managed 2,081,000 natural gas customers. The company is committed to sustainability and innovation, continuously updating its infrastructure to meet the growing demands for energy in its service areas.
Recent developments highlight the company’s dynamic growth and strategic decisions. In 2024, Centuri Group Inc., a wholly-owned subsidiary, announced the retirement of its CEO Paul M. Daily, and the commencement of a search for a new CEO. The company plans to separate Centuri as an independent entity through an IPO, expected to enhance shareholder value.
Southwest Gas Holdings maintains a robust financial condition, reflected in its consistent payment of quarterly dividends since going public in 1956. In recent earnings reports, the company showcased a strong operational and financial performance, with notable increases in net income and adjusted net income for the fiscal year 2023.
The company's commitment to excellence and strategic growth ensures it remains a significant player in the energy sector, continually adapting to meet the needs of its diverse customer base while delivering shareholder value.
Southwest Gas Holdings has rescheduled its 2022 Annual Meeting of Stockholders to May 19, 2022, at 11:00 a.m. EDT, citing the need for stockholders to review a settlement agreement with Carl Icahn. The meeting will remain virtual, and the record date for eligible voters is March 21, 2022. Stockholders who voted on the GOLD proxy card are urged to vote again on the WHITE proxy card. Pre-registration is required by May 18, 2022, for those wishing to attend.
Southwest Gas Holdings, Inc. (NYSE: SWX) will release its first quarter 2022 financial results on Monday, May 9, 2022, after market close. An earnings conference call is scheduled for 6:00 PM ET to discuss the results, which can be accessed via the company's website. For those who miss the live call, a digital replay will be available until 6:00 PM ET on May 16, 2022. This event marks an important opportunity for investors to gauge the company's financial performance and outlook.
Southwest Gas Holdings has declared a third-quarter cash dividend of $0.62 per share, payable on September 1, 2022, to shareholders of record by August 15, 2022. This dividend represents an annualized amount of $2.48 per share. The company has maintained a continuous dividend payout since its public listing in 1956. Southwest Gas operates in North America, delivering natural gas to over two million customers across Arizona, California, and Nevada, and provides utility infrastructure services through its subsidiaries.
On April 27, 2022, Southwest Gas Holdings, Inc. (NYSE: SWX) announced updates on its strategic alternatives process. The Board of Directors formed a Strategic Transactions Committee to explore options aimed at maximizing stockholder value, including potential sales or a spin-off of Centuri. The Committee has retained Moelis & Company as an advisor to assist in this process while Lazard continues to serve as financial advisor. The Board encourages stockholders to vote for its nominees on the WHITE proxy card ahead of the Annual Meeting scheduled for May 12, 2022.
Southwest Gas Holdings (NYSE: SWX) is urging stockholders to vote the WHITE proxy card to support its board in exploring strategic alternatives to maximize shareholder value. The board rejected Carl Icahn's $82.50 per share tender offer, stating it was inadequate. They are reviewing various options, including a potential sale of the company or its business units. Analysts are optimistic about the strategic review, with expectations of significant interest in the company. The Annual Meeting is set for May 12, 2022.
Southwest Gas Holdings, Inc. (NYSE: SWX) has acknowledged an open letter from shareholder Carl Icahn, urging his participation in exploring strategic alternatives to maximize shareholder value. The company received indications of interest exceeding Icahn's offer of $82.50 per share, prompting the Southwest Gas Board to review various strategic options. Lazard is engaged as a financial advisor, while Morrison & Foerster LLP and Cravath, Swaine & Moore LLP provide legal counsel. The Company emphasizes its commitment to maximizing stockholder value amidst ongoing discussions.
Southwest Gas Holdings, Inc. (NYSE: SWX) has addressed an open letter from Carl Icahn dated April 19, 2022. The company is focused on maximizing shareholder value through a strategic alternatives review, spurred by interest exceeding Icahn's offer of $82.50 per share. The board has authorized this review and welcomed Icahn's participation. Financial advisory is provided by Lazard, with legal counsel from Morrison & Foerster LLP and Cravath, Swaine & Moore LLP. The Annual Meeting is set for May 12, 2022, where more details will be shared with stockholders.
Southwest Gas Holdings (NYSE: SWX) announced it has received an indication of interest surpassing Carl Icahn's $82.50 per share offer, prompting the Board to explore strategic alternatives to enhance stockholder value. This includes potential sales of the Company or its business units, as well as a spin-off of Centuri. A committee of independent directors is overseeing the review, with Icahn invited to participate. The Board criticized Icahn's offer as inadequate, stating it does not serve the best interests of shareholders.
Cohen & Steers Capital Management has expressed support for the Icahn Group's initiative to nominate ten candidates for the board of directors at Southwest Gas Holdings (SWX). As an investor in SWX, Cohen & Steers plans to vote in favor of these nominees during the upcoming annual meeting, indicating a strategic alignment with the Icahn Group's vision for the company's governance. This move could potentially reshape the board's dynamics and influence future business strategies.
FAQ
What is the current stock price of Southwest Gas Holdings (SWX)?
What is the market cap of Southwest Gas Holdings (SWX)?
What does Southwest Gas Holdings, Inc. do?
How many customers does Southwest Gas Holdings serve?
Where is Southwest Gas Holdings headquartered?
What recent changes have been announced for Centuri Group Inc.?
How does Southwest Gas Holdings generate its revenue?
When did Southwest Gas Holdings start paying dividends?
What is the focus of Southwest Gas Holdings' utility infrastructure services?
What are the company’s recent financial highlights?
What is the significance of Centuri's IPO for Southwest Gas Holdings?
How does Southwest Gas Holdings ensure the reliability of its services?
