Vistra (NYSE:VST) Shares Down 7.4% – Here’s Why

Shares of Vistra Corp. (NYSE:VST) traded down 7.4% during mid-day trading on Monday . The company traded as low as $146.35 and last traded at $148.19. 2,362,667 shares were traded during mid-day trading, a decline of 65% from the average session volume of 6,784,055 shares. The stock had previously closed at $159.98.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BNP Paribas started coverage on Vistra in a report on Monday, October 14th. They issued an “outperform” rating and a $231.00 price objective on the stock. 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, November 22nd. UBS Group cut their price objective on shares of Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. initiated coverage on shares of Vistra in a research report on Thursday, October 17th. They set an “overweight” rating and a $178.00 target price for the company. Finally, Guggenheim increased their price target on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $149.10.

Vistra Trading Down 7.4 %

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 fifty day simple moving average of $137.82 and a 200-day simple moving average of $104.64. The company has a market capitalization of $50.38 billion, a PE ratio of 27.65, a PEG ratio of 2.05 and a beta of 1.16.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be issued a $0.221 dividend. This represents a $0.88 annualized dividend and a yield of 0.60%. This is a positive change from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. Vistra’s payout ratio is presently 16.42%.

Vistra declared that its board has authorized a share repurchase program on Thursday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Vistra

In other Vistra 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 owns 318,287 shares of the company’s stock, valued at $51,352,424.58. This trade represents a 39.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott A. Hudson sold 115,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $164.16, for a total value of $18,878,400.00. Following the sale, the executive vice president now directly owns 254,932 shares in the company, valued at $41,849,637.12. This represents a 31.09 % decrease in their position. The disclosure for this sale can be found here. 1.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Vistra

Institutional investors and hedge funds have recently made changes to their positions in the stock. Redwood Wealth Management Group LLC acquired a new position in Vistra during the 2nd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Vistra during the third quarter worth $30,000. Mark Sheptoff Financial Planning LLC purchased a new position in Vistra in the third quarter valued at $30,000. CVA Family Office LLC raised its stake in Vistra by 1,505.9% in the third quarter. CVA Family Office LLC now owns 273 shares of the company’s stock valued at $32,000 after buying an additional 256 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in Vistra during the 2nd quarter worth about $34,000. 90.88% of the stock is owned by institutional investors and hedge funds.

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.