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Ken GriffinReduced
Citadel Advisors · Q2 2026
$20.96M
236.4K shares · 0.0% of portfolio
Southwest Gas Holdings, Inc.
Southwest Gas Holdings, Inc. (SWX) is listed on NYSE and classified in Utilities - Regulated Gas, part of the Utilities sector. It is headquartered in Las Vegas, United States and has 2,453 employees. The company is worth $6.6B and trades at 22.8x its earnings of the last twelve months; the median for its sector is 20.5x. Revenue was $1.94B in fiscal 2025, down 21.6% from the year before. Net income was $439.83M. The share price is 3.6% below its 52-week high of $94.47. It pays a dividend yielding 2.83%. 6 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Lee Ainslie (Maverick Capital), at $167.57M. In that quarter, 2 of them opened or added to the position and 4 reduced it. Over the last 30 days, company insiders sold $204.52K of its stock on the open market and bought none.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +32.9% over 5Y.
today you would have $1,499.80▲ +50.0%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 11 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $80.02 | $70.71 | $63.35 | $61.88 | $70.05 | $60.75 | $75.97 | $76.50 | $80.48 | $76.62 | $55.16 | |
| P/E | 20.3x | 13.2x | 25.6x | 29.7x | — | 20.7x | 14.7x | 19.3x | 20.8x | 19.9x | 24.1x | 18.9x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 8.0% a year plus a 2.8% dividend yield. Growth capped at 25%.
Median P/E of 20.5 among peers in the sector.
Median P/E of 20.3 across this company’s own years on record.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Sector median of 13.3x operating profit, less net debt. Banks have no EBITDA.
Dividend growing 4.0% a year against a 7.0% required return, from the stock’s beta.
Companies of similar size in Utilities, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| CIGEnergy Co of Minas Gerais | $2.28 | 7.4x | 1.1x | 6.58% | 15.94% | $6.52B |
| TXNMTXNM Energy Inc | $58.73 | 33.8x | 1.8x | 2.88% | 6.25% | $6.47B |
| BKHBlack Hills Corp | $79.31 | 19.8x | 1.5x | 3.54% | 7.96% | $6.05B |
| ENICEnel Chile S.A. | $4.34 |
| P/S | 1.4x | 3.0x | 2.1x | 1.8x | 0.8x | 1.2x | 1.1x | 1.3x | 1.4x | 1.5x | 1.5x | 1.1x |
| P/B | 1.5x | 1.5x | 1.4x | 1.4x | 1.4x | 1.4x | 1.3x | 1.7x | 1.8x | 2.1x | 2.2x | 1.6x |
| EPS | $6.08 | $2.76 | $2.13 | -$3.10 | $3.39 | $4.14 | $3.94 | $3.68 | $4.04 | $3.18 | $2.92 |
| Dividend yield | 3.10% | 3.10% | 3.51% | 3.91% | 3.97% | 3.36% | 3.71% | 2.84% | 2.69% | 2.40% | 2.29% | 2.86% |
| Payout | 54.94% | 40.79% | 89.86% | 116.43% | — | 69.47% | 54.47% | 54.70% | 55.84% | 47.90% | 55.19% | 54.11% |
| Profit margin | 6.33% | 22.67% | 8.03% | 5.95% | -4.10% | 5.46% | 7.04% | 6.86% | 6.33% | 7.61% | 6.18% | 5.61% |
| ROE | 8.54% | 11.10% | 5.67% | 4.56% | -6.65% | 6.80% | 8.69% | 8.54% | 8.09% | 10.68% | 9.14% | 8.69% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
-3.5% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 10.8x |
| 1.1x |
| 4.38% |
| 11.00% |
| $6B |
| CWENClearway Energy, Inc. | $31.43 | 40.8x | 2.1x | 5.92% | -3.17% | $7.75B |
| BEPCBrookfield Renewable Corp | $29.36 | — | — | 5.35% | -45.46% | $5.45B |