Cornercap Investment Counsel Inc. Has $1.88 Million Stake in Vistra Corp. (NYSE:VST)

Cornercap Investment Counsel Inc. lessened its holdings in Vistra Corp. (NYSE:VST) by 31.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,883 shares of the company’s stock after selling 7,419 shares during the quarter. Vistra comprises approximately 0.6% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 15th biggest position. Cornercap Investment Counsel Inc.’s holdings in Vistra were worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new position in shares of Vistra in the 2nd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Vistra in the 3rd quarter worth approximately $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Vistra in the 1st quarter worth approximately $32,000. CVA Family Office LLC boosted its stake in shares of Vistra by 1,505.9% in the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock worth $32,000 after buying an additional 256 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new position in shares of Vistra in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Vistra from $110.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Jefferies Financial Group lifted their price target on shares of Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Guggenheim lifted their price target on shares of Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. BNP Paribas initiated coverage on shares of Vistra in a report on Monday, October 14th. They set an “outperform” rating and a $231.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on shares of Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vistra has an average rating of “Buy” and an average price target of $145.40.

Vistra Stock Down 2.5 %

VST opened at $138.51 on Friday. The company has a fifty day moving average price of $118.14 and a 200-day moving average price of $96.78. The firm has a market capitalization of $47.13 billion, a P/E ratio of 25.84 and a beta of 1.09. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.88. Vistra Corp. has a one year low of $34.25 and a one year high of $149.80.

Vistra Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.221 per share. This is a positive change from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Friday, December 20th. Vistra’s payout ratio is 16.42%.

Vistra declared that its board has approved a share repurchase plan on Thursday, November 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Vistra Profile

Vistra Corp., together with its subsidiaries, operates as an integrated retail electricity and power generation company. The company operates through six segments: Retail, Texas, East, West, Sunset, and Asset Closure. It retails electricity and natural gas to residential, commercial, and industrial customers across states in the United States and the District of Columbia.