Southwest Gas Unit Centuri Gears Up For IPO: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 09 2024
0mins
Source: Business Insider
- Southwest Gas Holdings IPO: Centuri Holdings, a subsidiary of Southwest Gas Holdings, is launching an IPO for 12.40 million shares with an option for additional shares.
- IPO Details: The IPO price is expected to be between $18.00 and $21.00 per share, and Centuri will list its shares on the New York Stock Exchange under the ticker symbol "CTRI."
- Investment by Carl Icahn: Investment entities affiliated with Carl Icahn will purchase 2.59 million shares of Centuri common stock at the IPO price in a private placement.
- Recent Filing: Centuri Holdings filed a registration statement with the SEC for the proposed IPO of its common stock last month.
- Investor Exposure: Investors can access SWX stock through LeaderShares Activist Leaders ETF and Invesco Building & Construction ETF.
Analyst Views on SWX
Wall Street analysts forecast SWX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SWX is 87.33 USD with a low forecast of 82.00 USD and a high forecast of 91.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 83.900
Low
82.00
Averages
87.33
High
91.00
Current: 83.900
Low
82.00
Averages
87.33
High
91.00
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.
