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LAS VEGAS - Southwest Gas Holdings, Inc. (NYSE:SWX), a utility company with a market capitalization of $5.2 billion and a remarkable 55-year track record of consecutive dividend payments, today announced the appointment of Brian E. Sandoval to its Board of Directors. Sandoval, with a notable background in public service including a term as Nevada Governor and current role as President of the University of Nevada, Reno, is set to contribute his experience in legal, regulatory, and leadership areas to the company’s board. According to InvestingPro analysis, the company maintains a GOOD financial health score, suggesting strong operational fundamentals.
E. Renae Conley, Chair of the Board, expressed enthusiasm about Sandoval’s addition, citing his leadership skills and regional connections as assets that will support Southwest Gas’s commitment to growth and stockholder value. With the company currently offering a 3.43% dividend yield and generating annual revenues of $5.1 billion, Karen S. Haller, President and CEO, echoed these sentiments, anticipating Sandoval’s alignment with the company’s strategic goals.
Southwest Gas, a fully regulated natural gas utility trading above its InvestingPro Fair Value, is focused on service excellence and economic development across Arizona, Nevada, and California. With its P/E ratio of 26.3 and proven profitability over the last twelve months, the company continues to demonstrate stable financial performance. Sandoval’s career, which spans several decades, includes positions such as U.S. District Court Judge for the District of Nevada and Attorney General of Nevada. His tenure as Nevada’s 29th Governor and his current presidency at the University of Nevada, Reno, where he has been instrumental in enhancing student accessibility and community engagement, are expected to bring a unique perspective to the company’s board.
The company, which serves over two million customers, is also the majority owner of Centuri Holdings, Inc., a provider of utility infrastructure services in North America. The addition of Sandoval to the Board of Directors is part of Southwest Gas’s ongoing efforts to evolve into a premier natural gas utility while fostering sustainable energy solutions. Investors can access detailed analysis and additional insights through the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks including SWX.
This announcement is based on a press release statement from Southwest Gas Holdings, Inc.
In other recent news, Southwest Gas Holdings reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $1.39, which exceeded analyst expectations of $1.27. The company’s revenue for the quarter met forecasts, reaching $1.27 billion, indicating stable financial performance. Southwest Gas also announced a third-quarter cash dividend of $0.62 per share, consistent with its long-standing practice of rewarding shareholders. The company highlighted strategic investments, planning a $4.3 billion capital expenditure over the next five years, focusing on infrastructure and safety improvements. Analysts noted that Southwest Gas Holdings maintains strong economic activity in Arizona and Nevada, which continues to drive demand for its services. Additionally, the company provided guidance for 2025, projecting utility net income between $265 million and $275 million, with expected earnings growth of 8-9% over the previous year. The company plans an $880 million capital expenditure in 2025, with a compound annual growth rate of 6-8% for its rate base from 2025 to 2029. Southwest Gas Holdings remains committed to maintaining a competitive dividend payout to its shareholders.
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