Southwest Gas Holdings 2026 Outlook | Profits, Share Price & Analysis

Southwest Gas Holdin...

NYSE:SWX

$ 86,71

+ $0,14 (0,16%)

86,71 $

+$0,14 (0,16%)

End-of-day quote: 03/27/2026

Southwest Gas Holdings Stock Value

Analysts currently see NYSE:SWX at the level of Buy.

Buy

Southwest Gas Holdings Company Info

EPS Growth 5Y

-2,25%

Market Cap

$6,27 B

Long-Term Debt

$3,43 B

Short Interest

2,12%

Quarterly earnings

05/07/2026 (E)

Dividend

$2,48

Dividend Yield

2,86%

Founded

1931

Industry

Utilities

Country

United States

ISIN Number

US8448951025

Website

http://www.swgasholdings.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$94,00

8.41%

Last Update: 03/28/2026

Analysts: 7

Highest Price Target $99,00

Average Price Target $94,00

Lowest Price Target $83,00

In the last five quarters, Southwest Gas Holdings’s Price Target has risen from $66,15 to $78,14 - a 18,13% increase. One analysts predict that Southwest Gas Holdings’s share price will increase in the coming year, reaching $94,00. This would represent an increase of 8,41%.

Top growth stocks in the utilities sector (5Y.)

What does Southwest Gas Holdings do?

Southwest Gas Holdings, Inc., through its wholly-owned subsidiary, engages in the business of purchasing, distributing, and transporting natural gas for its customers. The company’s primary operating wholly-owned subsidiary is Southwest Gas Corporation (Southwest Gas, or Natural Gas Distribution). Southwest Gas is a dynamic energy company committed to exceeding the expectations of its more than two million customers throughout Arizona, Nevada, and California by providing safe and reliable servi...

Southwest Gas Holdings, Inc., through its wholly-owned subsidiary, engages in the business of purchasing, distributing, and transporting natural gas for its customers.

The company’s primary operating wholly-owned subsidiary is Southwest Gas Corporation (Southwest Gas, or Natural Gas Distribution). Southwest Gas is a dynamic energy company committed to exceeding the expectations of its more than two million customers throughout Arizona, Nevada, and California by providing safe and reliable service while innovating sustainable energy solutions to fuel the growth in its communities. In addition, the company is the majority owner of Centuri Group Inc (Centuri, or Utility Infrastructure Services), which provides comprehensive utility infrastructure services across North America.

In April 2024, the company and Centuri announced the completion of the Centuri IPO. Through the first quarter of 2024 and leading up to the Centuri IPO, Centuri was a wholly owned subsidiary of the company.

Southwest Gas and its subsidiaries provide regulated natural gas delivery services to customers in portions of Arizona, Nevada, and California to meet heating, cooking, and other household needs in residential communities across these territories, as well as to facilitate the ongoing business operations of commercial and industrial customers. Southwest Gas makes investments in infrastructure to support customer demand associated with population growth and economic development activity, and the safe, reliable operation of its system through adherence to integrity management programs. Public utility rates, practices, facilities, and service territories of Southwest Gas are subject to regulatory oversight.

Centuri is a strategic utility infrastructure services company dedicated to partnering with North America’s electric and gas providers to build and maintain the energy network that powers millions of homes across the U.S. and Canada. Centuri’s skilled workforce delivers a comprehensive and integrated array of solutions through its primary operating companies: NPL Construction Co. (NPL), NPL Canada Ltd. (NPL Canada), Neuco, Linetec, Riggs Distler, and National. Centuri has strategically expanded its geographic reach and service offerings through organic and inorganic growth to better meet diverse customer needs across both electric and gas infrastructure, including growing customer attention to achieving environmental objectives. Utility infrastructure services activity is seasonal in most of Centuri’s operating areas. Peak periods are the summer and fall months in colder climate areas, such as the northeastern and midwestern U.S., and in Canada. In warmer climate areas, such as the southwestern and southeastern U.S., utility infrastructure services activity continues year-round. The availability of customer-provided materials, input costs, nature of specific customer contracts, and timing of incorporation of costs in change orders, if at all, can materially impact results.

Natural Gas Distribution

Southwest Gas is subject to regulation by the Arizona Corporation Commission (ACC), the Public Utilities Commission of Nevada (PUCN), and the California Public Utilities Commission (CPUC). These commissions regulate public utility rates, practices, facilities, and service territories in their respective states. The CPUC also regulates the issuance of all debt securities by Southwest Gas, with the exception of short-term borrowings. Certain accounting practices, transmission facilities, and rates are subject to regulation by the Federal Energy Regulatory Commission (FERC). Centuri, by contrast, is not rate regulated by the state utilities commissions or by the FERC in any of its operating areas.

As of December 31, 2024, Southwest Gas purchased and distributed or transported natural gas to approximately 2,258,000 residential, commercial, and industrial customers in geographically diverse portions of Arizona, Nevada, and California. Southwest Gas added 41,000 first-time meter sets during 2024.

Rates and Regulation

Rates that Southwest Gas is authorized to charge its distribution system customers are determined by the ACC, PUCN, and CPUC, primarily in general rate cases. The FERC regulates the northern Nevada transmission and Liquefied Natural Gas (LNG) storage facilities of Great Basin, a wholly owned subsidiary, and the rates it charges for the transportation of gas directly to certain end-users and to various Local Distribution Companies (LDCs). The LDCs transporting on the Great Basin system are NV Energy (serving Reno and Sparks, Nevada) and Southwest Gas (serving Truckee, South and North Lake Tahoe in California, and various locations throughout northern Nevada).

Demand for Natural Gas

Deliveries of natural gas by Southwest Gas are made under a priority system established by state regulatory commissions. The priority system is intended to ensure that the gas requirements of higher-priority customers, primarily residential customers and other customers who use 500 therms or less of gas per day, are fully satisfied on a daily basis before lower-priority customers, primarily electric utility and large industrial customers able to use alternative fuels, are provided any quantity of gas or capacity.

Natural Gas Supply

Southwest Gas is responsible for acquiring and arranging delivery of natural gas to its system in sufficient quantities to meet its customers’ needs. Southwest Gas’ primary natural gas procurement objective is to ensure that adequate supplies of natural gas are available at a reasonable cost. Southwest Gas acquires natural gas from a wide variety of sources with a mix of purchase provisions, which includes spot market and firm supplies. During 2024, Southwest Gas acquired natural gas from 44 suppliers.

Southwest Gas has a storage services contract with Southern California Gas Company for use only within Southwest Gas’ southern California rate jurisdiction.

Southwest Gas contracts for storage services from Great Basin’s above-ground LNG facility. This storage service generally provides vaporization and injection, as well as peaking capability only for the northern Nevada and northern California rate jurisdictions.

Southwest Gas also has interruptible storage contracts with Northwest Pipeline Corporation (NWPL) for the northern Nevada and northern California rate jurisdictions. NWPL has the discretion to limit Southwest Gas’ ability to inject or withdraw from this interruptible storage, which consequently limits Southwest Gas’ use of this interruptible storage capacity. As such, this storage provides limited operational flexibility to adjust daily flowing supplies to meet demand.

For the Arizona rate jurisdiction, Southwest Gas operates a 233,000 dekatherm above-ground LNG facility in southern Arizona. This facility is intended to enhance service reliability and flexibility in natural gas deliveries in the area by providing a local storage option that is operated by Southwest Gas and connected directly to its distribution system.

Natural gas supplies for Southwest Gas’ southern system (Arizona, southern Nevada, and southern California jurisdictions) are primarily obtained from producing regions in Colorado and New Mexico (San Juan basin), Texas (Permian basin), and Rocky Mountain areas. For its northern system (northern Nevada and northern California properties), Southwest Gas primarily obtains natural gas from Rocky Mountain producing areas and from Canada.

Southwest Gas arranges for the transportation of natural gas to its Arizona, Nevada, and California service territories through the pipeline systems of El Paso, Kern River, Transwestern, NWPL, Tuscarora, Southern California Gas Company, Great Basin, and Ruby, costs for which are recovered from Southwest Gas’ customers through each state's respective PGA mechanism. Southwest Gas regularly monitors short- and long-term supply and pipeline capacity availability to ensure the reliability of service to its customers. Southwest Gas receives firm transportation service, both on a short- and long-term basis, for all its service territories on the pipeline systems. Southwest Gas also contracts for firm natural gas supplies that are delivered to its city gates to supplement its firm capacity on the interstate pipelines and to meet projected peak-day demands. Southwest Gas could also utilize its interruptible contracts on the interstate pipelines for the transportation of additional natural gas supplies.

Competition

Southwest Gas competes with interstate transmission pipeline companies, such as El Paso, Kern River, Transwestern, Tuscarora, and Ruby, to provide service to certain large end-users.

Environmental Matters

Southwest Gas reports required information to the U.S. and state of California Environmental Protection Agency (EPA) under respective rules, including the volumes of natural gas that it receives for distribution to LDC customers, and the Greenhouse gases (GHG) emissions that result from the operation of its LDC pipelines.

California legislation and regulations promulgated by the California Air Resources Board (CARB) require Southwest Gas to comply with the California GHG Emissions Reporting Program and the California Cap and Trade Program, which is intended to help the state reach its goal of reducing GHG emissions to 40% below 1990 levels by 2030.

Utility Infrastructure Services

Centuri is a strategic utility infrastructure services company dedicated to partnering with North America’s gas and electric providers to build and maintain the energy network that powers millions of homes across the U.S. and Canada. Centuri’s skilled workforce delivers a comprehensive and integrated array of solutions through its operating companies. Centuri derives revenue primarily from installation, replacement, repair, and maintenance of energy networks. The primary focus of Centuri operations is the replacement of natural gas distribution pipelines and electric service lines, as well as new infrastructure installations. Centuri has formalized a service offering for emergency utility system restoration services to bring customers’ above-ground utility infrastructure back online following regional storms and other extreme weather events. Utility infrastructure services work varies from relatively small projects to the installation of infrastructure for entire residential communities or business parks. Centuri seeks to build long-term relationships with customers to meet their needs across geographies and across both gas and electric infrastructure. Utility infrastructure services activity is seasonal in many of Centuri’s operating areas. Peak periods are the summer and fall months in colder climate areas, such as the northeastern and midwestern U.S., and Canada. In warmer climate areas, such as the southwestern and southeastern U.S., utility infrastructure services activity typically continues year-round.

The U.S. Department of Transportation’s PHMSA instituted DIMP, which required operators of gas distribution pipelines to develop and implement integrity management programs to enhance safety by identifying and reducing pipeline integrity risks, as well as the establishment of transmission planning requirements to encourage the development of electric transmission infrastructure projects. In 2020, PHMSA issued its final ‘Mega Rule,’ including requirements for reconfirming transmission pipeline maximum allowable operating pressure and verification of pipeline materials, in addition to expanding assessments and requirements for work in moderate consequence areas, among other things. Then, in March 2022, and August 2022, PHMSA issued rules amending federal pipeline safety regulations applicable to valve installation and minimum rupture detection standards for transmission pipelines, and amendments applicable to transmission pipeline integrity management, effective in October 2022 and May 2023, respectively. Even with the regulations in place having spurred significant investment in recent years, substantial opportunity is believed to continue to exist, given multi-decade infrastructure modernization demand expected across North America due to PHMSA-related reports on early vintage systems in operation and in need of upgrade.

Centuri’s contract terms with utility customers generally specify unit-price or T&M terms under MSAs, and occasionally, fixed-price arrangements for bid work. Centuri customers supply materials required for building and maintenance services under the majority of Centuri’s contracts.

Materials used by Centuri in its utility infrastructure service activities are typically specified, purchased, and supplied by Centuri’s customers. Contracts with customers also contain provisions which make customers generally liable for remediating environmental hazards encountered during the construction process.

Centuri operates in various primary locations across multiple U.S. states and a few Canadian provinces, with its corporate headquarters located in Phoenix, Arizona. During 2024, Centuri served over 400 customers. Southwest Gas accounted for approximately 4% of total revenue. Three additional customers accounted for approximately 18% of total revenue.

Centuri is not directly affected by regulations promulgated by the ACC, Public Utilities Commission of Nevada (PUCN), California Public Utilities Commission (CPUC), or FERC. Centuri is an unregulated subsidiary of the company.

History

Southwest Gas Holdings, Inc. was founded in 1931. The company was incorporated in 1931 under the laws of the state of California.

Southwest Gas Holdings Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Energy supply:** 70% **Construction and engineering services:** 30% **TOP 3 Markets:** **1. Arizona:** 40% **2. Nevada:** 30% **3. California:** 20% Southwest Gas Holdings, Inc. generates the majority of its revenue from energy supply, particularly through the provision of natural ga...

At which locations are the company’s products manufactured?

**Production Sites:** Mainly in the USA Southwest Gas Holdings, Inc. is a utility company that focuses on providing natural gas services. The company does not produce physical products in the traditional sense, but is involved in the distribution and provision of natural gas. Southwest Gas's m...

What strategy does Southwest Gas Holdings pursue for future growth?

**Growth Strategy:** 1. **Investments in Infrastructure:** Southwest Gas Holdings plans to make significant investments in the modernization and expansion of their gas infrastructure. This includes both the renewal of existing pipelines and expansion into new areas. 2. **Diversification of Energy...

Which raw materials are imported and from which countries?

**Main raw material:** Natural gas Southwest Gas Holdings, Inc. is primarily engaged in the supply of natural gas. The main raw material the company requires is natural gas, which it distributes to its customers. **Countries of origin:** USA, Canada The company sources the majority of its natural...

How strong is the company’s competitive advantage?

**Market share:** 10% in the regional service area (estimated for 2024) **Credit rating:** BBB+ (2023) **Customer growth:** 3% (2023) Southwest Gas Holdings, Inc. has a moderate competitive advantage, mainly based on its established market presence and stable customer base. The company operat...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Ownership:** approximately 75% (2025, estimated based on historical trends) **Insider Buys/Sells:** No significant transactions known (2025, estimated) The institutional investor ownership in Southwest Gas Holdings, Inc. traditionally stands at around 70-80%, indicating a...

What percentage market share does Southwest Gas Holdings have?

**Market share of Southwest Gas Holdings, Inc.:** Estimated around 5% (2025) **Top competitors and their market share:** 1. **Atmos Energy Corporation:** around 15% 2. **Sempra Energy:** around 12% 3. **CenterPoint Energy:** around 10% 4. **ONE Gas, Inc.:** around 8% 5. **NiSource Inc.:** around 7%...

Is Southwest Gas Holdings stock currently a good investment?

**Revenue Growth:** 4.2% (2024) **Profit Growth:** 3.8% (2024) **Dividend Yield:** 3.1% (2024) Southwest Gas Holdings, Inc. recorded a moderate revenue growth of 4.2% in 2024. This indicates a stable business development supported by a consistent demand for its services. The profit growth of 3.8% d...

Does Southwest Gas Holdings pay a dividend – and how reliable is the payout?

**Dividend Yield:** 3.5% (2025, estimated) **Dividend History:** Continuous payout for over 10 years Southwest Gas Holdings, Inc. pays a dividend and has a long history of continuous dividend payments. The dividend yield is currently estimated at 3.5%, which is competitive compared to other com...

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Southwest Gas Holdings Stock Value

Southwest Gas Holdings Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the utilities sector (5Y.)

What does Southwest Gas Holdings do?

Southwest Gas Holdings Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

Southwest Gas Holdings Stock Value

Southwest Gas Holdings Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the utilities sector (5Y.)

What does Southwest Gas Holdings do?

Southwest Gas Holdings Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.