NEW YORK ( TheStreet) -- Southwest Gas Corporation (NYSE: SWX) hit a new 52-week high Friday as it is currently trading at $43.70, above its previous 52-week high of $43.65 with 75,011 shares traded as of 11:50 a.m. ET. Average volume has been 183,100 shares over the past 30 days. Southwest Gas has a market cap of $1.99 billion and is part of the utilities sector and utilities industry. Shares are down 0.5% year to date as of the close of trading on Thursday. Southwest Gas Corporation engages in the purchase, distribution, and transportation of natural gas in Arizona, Nevada, and California. As of February 28, 2012, it had 1,859,000 residential, commercial, and industrial customers. The company has a P/E ratio of 16.3, 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 solid stock price performance, growth in earnings per share, increase in net income, revenue growth and attractive valuation levels. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Southwest Gas Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.