Vistra (NYSE:VST) Trading 1.8% Higher – Here’s Why

Vistra Corp. (NYSE:VST)’s stock price was up 1.8% during mid-day trading on Wednesday . The company traded as high as $144.16 and last traded at $143.36. Approximately 1,642,685 shares changed hands during trading, a decline of 76% from the average daily volume of 6,739,240 shares. The stock had previously closed at $140.79.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VST shares. JPMorgan Chase & Co. began coverage on shares of Vistra in a research report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 target price for the company. BNP Paribas initiated coverage on Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. BMO Capital Markets raised their target price on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Guggenheim lifted their price objective on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vistra currently has a consensus rating of “Buy” and an average price target of $149.10.

Vistra Price Performance

The stock has a market cap of $48.77 billion, a PE ratio of 26.75, a PEG ratio of 1.86 and a beta of 1.16. 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 business has a 50-day moving average price of $141.32 and a 200 day moving average price of $108.48.

Vistra Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a dividend of $0.221 per share. The ex-dividend date is Friday, December 20th. This represents a $0.88 annualized dividend and a yield of 0.62%. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is currently 16.42%.

Vistra announced that its board has authorized a share buyback plan on Thursday, November 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Vistra

In related news, EVP Stephen J. Muscato sold 207,100 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the transaction, the executive vice president now owns 318,287 shares in the company, valued at $51,352,424.58. The trade was a 39.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott B. Helm sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total transaction of $2,795,400.00. Following the completion of the sale, the director now owns 343,350 shares in the company, valued at approximately $47,990,029.50. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 342,100 shares of company stock worth $55,087,314 in the last ninety days. 1.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vistra

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

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.