Vistra (NYSE:VST) Trading Down 3.7% – Here’s Why

Vistra Corp. (NYSE:VST) shares dropped 3.7% during mid-day trading on Monday . The company traded as low as $156.31 and last traded at $160.50. Approximately 2,181,872 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 6,616,836 shares. The stock had previously closed at $166.73.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VST shares. 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 report on Tuesday, September 24th. Morgan Stanley lifted their target price on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. BNP Paribas assumed coverage on Vistra in a research note on Monday, October 14th. They issued an “outperform” rating and a $231.00 price target for the company. BMO Capital Markets lifted their price objective on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada increased their target price on shares of Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $151.50.

Vistra Stock Performance

The company’s 50-day simple moving average is $149.69 and its 200 day simple moving average is $115.43. The stock has a market cap of $57.56 billion, a P/E ratio of 31.56, a PEG ratio of 1.86 and a beta of 1.21. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68.

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 20th were issued 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 dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, December 20th. Vistra’s payout ratio is 16.42%.

Vistra announced that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

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

Hedge Funds Weigh In On Vistra

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Vistra by 115.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,532,657 shares of the company’s stock worth $217,758,000 after acquiring an additional 1,356,488 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Vistra by 1,358.2% in the second quarter. Thrivent Financial for Lutherans now owns 1,228,144 shares of the company’s stock worth $105,596,000 after purchasing an additional 1,143,918 shares during the last quarter. State Street Corp grew its position in Vistra by 6.8% during the 3rd 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 last quarter. Janus Henderson Group PLC increased its stake in Vistra by 36.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,781,908 shares of the company’s stock worth $448,320,000 after purchasing an additional 1,000,307 shares during the period. Finally, Marshall Wace LLP lifted its position in Vistra by 315.9% in the second quarter. Marshall Wace LLP now owns 1,175,811 shares of the company’s stock valued at $101,096,000 after purchasing an additional 893,093 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Vistra Company 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.