Kovack Advisors Inc. Cuts Stock Position in Vistra Corp. (NYSE:VST)

Kovack Advisors Inc. decreased its stake in shares of Vistra Corp. (NYSE:VST) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,150 shares of the company’s stock after selling 418 shares during the quarter. Vistra comprises about 1.1% of Kovack Advisors Inc.’s investment portfolio, making the stock its 14th biggest holding. Kovack Advisors Inc.’s holdings in Vistra were worth $10,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC purchased a new stake in shares of Vistra during the second quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Vistra during the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. purchased a new stake in Vistra during the 1st quarter valued at $32,000. CVA Family Office LLC increased its holdings 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 purchasing an additional 256 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new position in shares of Vistra in the second quarter worth $34,000. 90.88% of the stock is owned by institutional investors.

Vistra Stock Performance

NYSE VST traded up $3.82 during trading hours on Wednesday, hitting $145.98. 1,181,832 shares of the company’s stock traded hands, compared to its average volume of 6,930,123. Vistra Corp. has a 52 week low of $34.25 and a 52 week high of $149.80. The firm has a market capitalization of $49.67 billion, a P/E ratio of 26.52 and a beta of 1.09. The company has a current ratio of 1.11, a quick ratio of 0.88 and a debt-to-equity ratio of 4.68. The business’s fifty day moving average price is $115.58 and its two-hundred day moving average price is $96.17.

Vistra announced that its board has initiated a stock buyback program on Thursday, November 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Vistra Increases Dividend

The firm also recently disclosed 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 an increase from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.61%. Vistra’s payout ratio is presently 16.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VST shares. BMO Capital Markets increased their price objective on Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group raised their price target on shares of Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. 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 research note on Monday, September 23rd. BNP Paribas assumed coverage on shares of Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Vistra in a report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 target price on the stock. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $145.40.

About Vistra

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.