Vistra (NYSE:VST) Stock Price Down 6% – Here’s Why

Vistra Corp. (NYSE:VST)’s stock price dropped 6% during mid-day trading on Wednesday . The stock traded as low as $153.01 and last traded at $153.50. Approximately 1,848,673 shares changed hands during trading, a decline of 68% from the average daily volume of 5,820,272 shares. The stock had previously closed at $163.37.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VST. UBS Group boosted their target price on Vistra from $161.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada boosted their price target on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group raised their price objective on shares of Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. initiated coverage on shares of Vistra in a report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $151.50.

Vistra Trading Down 2.5 %

The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $54.21 billion, a P/E ratio of 29.73, a P/E/G ratio of 1.86 and a beta of 1.21. The company has a 50-day simple moving average of $145.37 and a 200 day simple moving average of $112.72.

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 20th were paid a dividend of $0.221 per share. This is a boost from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, December 20th. Vistra’s dividend payout ratio is presently 16.42%.

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

Insider Transactions at Vistra

In related news, Director Scott B. Helm sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 343,350 shares in the company, valued at $47,990,029.50. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott A. Hudson sold 115,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $164.16, for a total value of $18,878,400.00. Following the completion of the sale, the executive vice president now directly owns 254,932 shares in the company, valued at approximately $41,849,637.12. This represents a 31.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,100 shares of company stock worth $55,087,314. 1.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vistra

Several large investors have recently made changes to their positions in VST. Mark Sheptoff Financial Planning LLC bought a new position in shares of Vistra in the third quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Vistra in the third quarter worth about $30,000. CVA Family Office LLC lifted its position in shares of Vistra by 1,505.9% during the third 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. RPg Family Wealth Advisory LLC bought a new stake in shares of Vistra during the third quarter valued at approximately $36,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Vistra during the second quarter valued at approximately $26,000. Institutional investors 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.