Southwest Gas Names Justin S. Forsberg Chief Financial Officer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2025
0mins
Should l Buy SWX?
Source: PRnewswire
Leadership Change: Southwest Gas Holdings has promoted Justin S. Forsberg to Senior Vice President and Chief Financial Officer, effective December 1, 2025, succeeding Robert J. Stefani.
Background of Forsberg: Forsberg has been with Southwest Gas since August 2023 and previously held finance roles at IDACORP, Inc. and Idaho Power Company, bringing extensive experience in finance and accounting.
Company Commitment: The President and CEO, Karen S. Haller, expressed confidence in Forsberg's leadership and his role in the company's transition to a fully regulated natural gas business.
Company Overview: Southwest Gas Holdings, through its subsidiary, provides natural gas services to over 2 million customers in Arizona, Nevada, and California, focusing on safe and reliable service and sustainable energy solutions.
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Analyst Views on SWX
Wall Street analysts forecast SWX stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 87.110
Low
89.00
Averages
94.00
High
99.00
Current: 87.110
Low
89.00
Averages
94.00
High
99.00
About SWX
Southwest Gas Holdings, Inc. is a holding company. The Company operates through its subsidiary, Southwest Gas Corporation (Southwest). The Company operates through its segment, Natural Gas Distribution. The Natural Gas Distribution segment is engaged in the business of purchasing, distributing, and transporting natural gas. The Company and its subsidiary 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.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Southwest Gas Recognized as One of America's Best Mid-Size Companies for 2025
- Employee Satisfaction Recognition: For the second consecutive year, Southwest Gas has been named one of America's Best Mid-Size Companies by TIME, reflecting the company's excellence in employee satisfaction and corporate culture, which enhances its attractiveness as an employer.
- Consistent Growth Performance: The award is based on survey data from approximately 217,000 employees and three years of revenue growth, demonstrating Southwest Gas's stable performance in revenue growth and sustainability transparency, thereby strengthening its market competitiveness.
- Commitment to Sustainability: Southwest Gas excels in environmental, social, and governance (ESG) metrics, including carbon emissions reduction and board diversity, indicating the company's strong commitment to promoting sustainable development and enhancing its brand image.
- Community Impact Enhancement: The company is dedicated to providing safe and reliable service to over 2 million customers across Arizona, Nevada, and California, while supporting community growth and development through innovative sustainable energy solutions.
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Southwest Gas Recognized as One of America's Best Mid-Size Companies for 2025
- Employee Satisfaction: For the second consecutive year, Southwest Gas Holdings has been recognized as one of America's Best Mid-Size Companies, reflecting the company's excellence in employee satisfaction and corporate culture, which enhances its attractiveness as an employer.
- Consistent Growth: The company has demonstrated resilience and market competitiveness with over $200 million in annual revenue over the past three years, ensuring its leading position in the industry amidst economic fluctuations.
- Sustainability Transparency: Southwest Gas excels in ESG metrics, including carbon emissions reduction, board diversity, and human rights policies, showcasing its commitment to sustainable development and enhancing its brand image.
- Community Responsibility: The company is dedicated to providing safe and reliable service to over 2 million customers across Arizona, Nevada, and California, while driving community growth and development through innovative sustainable energy solutions.
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Southwest Gas Recognized as One of America's Best Mid-Size Companies for 2025
- Employee Satisfaction Recognition: For the second consecutive year, Southwest Gas has been named one of America's Best Mid-Size Companies by TIME, reflecting the company's excellence in employee satisfaction and corporate culture, which enhances its attractiveness as an employer.
- Consistent Growth Performance: The award is based on survey data from approximately 217,000 employees and three years of revenue growth, demonstrating Southwest Gas's stable performance in revenue growth and sustainability transparency, thereby strengthening its market competitiveness.
- Commitment to Sustainability: Southwest Gas excels in environmental, social, and governance (ESG) metrics, including carbon emissions reduction and board diversity, indicating the company's strong commitment to promoting sustainable development and enhancing its brand image.
- Community Impact Enhancement: The company is dedicated to providing safe and reliable service to over 2 million customers across Arizona, Nevada, and California, while supporting community growth and development through innovative sustainable energy solutions.
See More
Southwest Gas Recognized as One of America's Best Mid-Size Companies for 2025
- Employee Satisfaction: For the second consecutive year, Southwest Gas Holdings has been recognized as one of America's Best Mid-Size Companies, reflecting the company's excellence in employee satisfaction and corporate culture, which enhances its attractiveness as an employer.
- Consistent Growth: The company has demonstrated resilience and market competitiveness with over $200 million in annual revenue over the past three years, ensuring its leading position in the industry amidst economic fluctuations.
- Sustainability Transparency: Southwest Gas excels in ESG metrics, including carbon emissions reduction, board diversity, and human rights policies, showcasing its commitment to sustainable development and enhancing its brand image.
- Community Responsibility: The company is dedicated to providing safe and reliable service to over 2 million customers across Arizona, Nevada, and California, while driving community growth and development through innovative sustainable energy solutions.
See More
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Tesla's Ambition: Elon Musk predicts that Optimus robots will become the best surgeons on Earth by the end of the decade.
Walmart's Drone Delivery Expansion: Walmart is collaborating with Alphabet to increase aerial drone delivery services to 40 million customers next year, a significant rise from the current two million.
Disney's Theme Park Update: Walt Disney is planning to retheme its Rock ‘n’ Roller Coaster at Hollywood Studios to feature The Muppets, showcasing the company's focus on innovative attractions.
Small-Cap Stocks Performance: There is a notable trend of small-cap stocks outperforming larger ones since mid-November, raising questions about whether this is a temporary phenomenon or the beginning of a longer-term recovery.
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Southwest Gas Holdings Upgraded to Buy by Citi with $99 Price Target
- Earnings Guidance Upgrade: Citi upgraded Southwest Gas Holdings from Neutral to Buy with a $99 price target, anticipating EPS growth guidance of approximately 10.4% through 2030, significantly higher than the previous 7% forecast, driven by the Great Basin gas pipeline expansion and regulatory improvements in Arizona and Nevada.
- Business Restructuring Completed: The company has successfully exited its construction business, a strategic move that not only optimizes resource allocation but also enhances overall profitability, thereby strengthening its competitive position in the market.
- Acquisition Potential Analysis: Citi analyst noted that Southwest Gas remains a potential acquisition target; while a deal is unlikely in the near term, it is trading at 1.25x the 2025 rate base, at the low end of the recent gas utilities M&A range, indicating strong acquisition appeal.
- Market Competition Comparison: Southwest Gas currently trades at a discount to MDU Resources, which has rallied on a similar pipeline expansion opportunity, with Citi analysts viewing Southwest as a more attractive investment choice, reflecting market recognition of its future growth potential.
See More
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- Cautious Netflix Outlook: Wedbush reduces Netflix's price target from $140 to $115 due to disappointing Q3 results and Q4 guidance, reflecting market concerns about its future growth trajectory.
- Boeing Price Target Increase: Bernstein raises Boeing's price target from $277 to $298, expressing increasing confidence in the company's growth path for 2026, highlighting its strong position in the aerospace and defense sector.
See More
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