Vistra (NYSE:VST) Stock Price Down 2.8% – Here’s Why

Shares of Vistra Corp. (NYSE:VST) traded down 2.8% on Friday . The stock traded as low as $161.69 and last traded at $161.89. 1,795,622 shares were traded during mid-day trading, a decline of 74% from the average session volume of 6,873,730 shares. The stock had previously closed at $166.61.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VST. 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 research note on Tuesday, September 24th. UBS Group dropped their price objective on Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Guggenheim increased their target price on Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their price target on shares of Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets upped their price target 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $149.10.

Vistra Stock Performance

The stock’s 50-day moving average price is $127.24 and its 200-day moving average price is $100.03. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. The company has a market capitalization of $55.09 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.14 and a beta of 1.09.

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be paid a $0.221 dividend. This is an increase from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, December 20th. Vistra’s payout ratio is presently 16.42%.

Vistra announced that its Board of Directors has authorized a share repurchase program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VST. State Street Corp lifted its stake in Vistra by 6.8% in the third quarter. State Street Corp now owns 16,355,255 shares of the company’s stock valued at $1,938,752,000 after buying an additional 1,037,402 shares during the last quarter. Lone Pine Capital LLC increased its holdings in shares of Vistra by 6.6% in the 2nd quarter. Lone Pine Capital LLC now owns 6,838,007 shares of the company’s stock worth $587,932,000 after acquiring an additional 425,126 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Vistra by 51.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,826,631 shares of the company’s stock worth $453,609,000 after acquiring an additional 1,293,974 shares during the period. Janus Henderson Group PLC lifted its position in Vistra by 36.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,781,908 shares of the company’s stock valued at $448,320,000 after purchasing an additional 1,000,307 shares during the last quarter. Finally, Castle Hook Partners LP boosted its stake in Vistra by 33.5% during the 3rd quarter. Castle Hook Partners LP now owns 2,610,273 shares of the company’s stock valued at $309,422,000 after purchasing an additional 654,568 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.