Vistra (NYSE:VST) Trading Down 4.9% – Here’s Why

Shares of Vistra Corp. (NYSE:VST) dropped 4.9% on Tuesday . The stock traded as low as $136.10 and last traded at $138.15. Approximately 1,727,339 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 6,752,434 shares. The stock had previously closed at $145.33.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VST. JPMorgan Chase & Co. began coverage on Vistra in a research note on Thursday, October 17th. They set an “overweight” rating and a $178.00 price target on the stock. BNP Paribas initiated coverage on shares of Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 target price on the stock. BMO Capital Markets upped their price target on shares of Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. 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 report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their price objective 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. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Vistra has an average rating of “Buy” and an average target price of $149.10.

Vistra Price Performance

The company has a market cap of $46.68 billion, a PE ratio of 25.60, a PEG ratio of 1.86 and a beta of 1.16. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.99. The stock’s 50-day moving average is $140.29 and its 200 day moving average is $106.91.

Vistra Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a $0.221 dividend. This is a boost from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.64%. Vistra’s dividend payout ratio (DPR) is presently 16.42%.

Vistra declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Vistra

In related news, EVP Stephen J. Muscato sold 207,100 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was 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 in the company, valued at $51,352,424.58. This trade represents a 39.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott A. Hudson sold 115,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 254,932 shares in the company, valued at approximately $41,849,637.12. The trade was a 31.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 342,100 shares of company stock worth $55,087,314. 1.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Vistra

A number of institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. grew its holdings in Vistra by 94.3% during the third quarter. B. Riley Wealth Advisors Inc. now owns 4,853 shares of the company’s stock worth $622,000 after acquiring an additional 2,355 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in Vistra in the 3rd quarter worth approximately $9,878,000. Retirement Systems of Alabama increased its holdings in shares of Vistra by 9.6% during the 3rd quarter. Retirement Systems of Alabama now owns 78,965 shares of the company’s stock valued at $9,361,000 after purchasing an additional 6,920 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Vistra during the 3rd quarter valued at approximately $2,179,000. Finally, Blankinship & Foster LLC acquired a new position in shares of Vistra in the 3rd quarter valued at $2,353,000. 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.