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

Vistra Corp. (NYSE:VST)’s share price traded down 7.4% during trading on Monday . The stock traded as low as $146.35 and last traded at $148.19. 2,362,667 shares traded hands 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group decreased their price objective on shares of Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada increased their price objective 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. Morgan Stanley raised their price objective on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Guggenheim raised 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. Finally, JPMorgan Chase & Co. began coverage on Vistra in a report on Thursday, October 17th. They set an “overweight” rating and a $178.00 price target on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $149.10.

Vistra Price Performance

The stock has a 50 day moving average of $138.80 and a two-hundred day moving average of $105.29. 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 firm has a market capitalization of $48.99 billion, a P/E ratio of 26.41, a P/E/G ratio of 2.05 and a beta of 1.16.

Vistra Increases Dividend

The business 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 $0.221 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.61%. This is an increase from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. Vistra’s dividend payout ratio (DPR) is presently 16.42%.

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

Insider Transactions at Vistra

In related news, EVP Scott A. Hudson sold 115,000 shares of the business’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 owns 254,932 shares of the company’s stock, valued at $41,849,637.12. The trade was a 31.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen J. Muscato sold 207,100 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 318,287 shares in the company, valued at approximately $51,352,424.58. This represents a 39.42 % 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 bought and sold shares of the business. Mark Sheptoff Financial Planning LLC acquired a new position in Vistra in the third quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Vistra in the third quarter worth $30,000. CVA Family Office LLC boosted 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 worth $32,000 after purchasing an additional 256 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Vistra in the third quarter worth $36,000. Finally, Redwood Wealth Management Group LLC acquired a new position in Vistra in the second quarter worth $26,000. Institutional investors and hedge funds 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.