NEW YORK ( TheStreet) -- Southwest Gas Corporation (NYSE: SWX) hit a new 52-week high Tuesday as it is currently trading at $40.83, above its previous 52-week high of $40.79 with 10,078 shares traded as of 10:22 a.m. ET. Average volume has been 268,600 shares over the past 30 days.

Southwest Gas has a market cap of $1.83 billion and is part of the utilities sector and utilities industry. Shares are up 8.7% year to date as of the close of trading on Monday.

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 18.1, equal to the average utilities industry P/E ratio and above 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, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. 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.