Southwest Gas Ends Icahn Cooperation Agreement, Board Remains

Southwest Gas ( (SWX) ) has shared an announcement.

On February 11, 2026, Southwest Gas Holdings, Inc. and the Icahn Group mutually agreed to terminate their Amended and Restated Cooperation Agreement, originally dated October 14, 2025, ending all associated rights and obligations between the parties. Despite the agreement’s termination, directors Andrew W. Evans, Henry P. Linginfelter and Ruby Sharma, who joined the board under that pact, will remain on the board and are expected to be renominated at the company’s 2026 annual meeting, signaling continuity in board composition even as the formal activist settlement falls away.

The most recent analyst rating on (SWX) stock is a Buy with a $96.00 price target. To see the full list of analyst forecasts on Southwest Gas stock, see the SWX Stock Forecast page.

Spark’s Take on SWX Stock

According to Spark, TipRanks’ AI Analyst, SWX is a Outperform.

Southwest Gas Holdings scores a 74, driven by strong earnings call highlights and attractive valuation metrics. The company’s technical indicators suggest positive momentum, while financial performance shows resilience in profitability and cash generation despite high leverage. The positive sentiment from the earnings call and strategic achievements further bolster confidence in the stock’s future performance.

To see Spark’s full report on SWX stock, click here.

More about Southwest Gas

Southwest Gas Holdings, Inc. is a regulated natural gas utility holding company that provides natural gas distribution services to residential, commercial and industrial customers in the Western United States. The company focuses on delivering energy to growing Sun Belt markets and operates under state-regulated frameworks that shape its capital allocation, governance and shareholder engagement practices.

Average Trading Volume: 500,845

Technical Sentiment Signal: Buy

Current Market Cap: $6.03B

For an in-depth examination of SWX stock, go to TipRanks’ Overview page.