Royal Bank of Canada Cuts Stake in Southwest Gas by 51.6%

Royal Bank of Canada has reduced its stake in Southwest Gas Corporation by 51.6% during the first quarter, selling 60,656 shares. The bank's position in Southwest Gas now stands at 56,976 shares, valued at $4,951,000.

Other institutional investors have also made changes to their holdings of Southwest Gas. Millennium Management LLC increased its stake by 74.7% during the first quarter and owns 209,934 shares worth $15,073,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Southwest Gas by 14.9% in the 1st quarter.

The utilities provider reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Southwest Gas has set its FY 2026 guidance at 4.170-4.320 EPS and analysts anticipate that it will post 4.25 earnings per share for the current fiscal year.

The company also declared a quarterly dividend of $0.645 per share, paid on Tuesday, September 1st. The ex-dividend date is Monday, August 17th, with a dividend payout ratio (DPR) of 33.68%.