NEW YORK ( TheStreet) -- Southwest Gas Corporation (NYSE: SWX) hit a new 52-week high Thursday as it is currently trading at $40.62, above its previous 52-week high of $40.59 with 36,795 shares traded as of 11:51 a.m. ET. Average volume has been 278,500 shares over the past 30 days.

Southwest Gas has a market cap of $1.78 billion and is part of the utilities sector and utilities industry. Shares are up 10.3% year to date as of the close of trading on Wednesday.

Southwest Gas Corporation engages in the purchase, distribution, and transportation of natural gas in Arizona, Nevada, and California. The company has a P/E ratio of 17.6, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Southwest Gas as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Southwest Gas Ratings Report.

See all 52-week high stocks or get investment ideas from our investment research center.