Vistra (NYSE:VST) Reaches New 1-Year High – Here’s Why

Vistra Corp. (NYSE:VST) shares hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $169.19 and last traded at $167.08, with a volume of 9668696 shares. The stock had previously closed at $160.81.

Wall Street Analyst Weigh In

Several brokerages recently commented on VST. Jefferies Financial Group upped their target price on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Morgan Stanley increased their price objective 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. Guggenheim boosted their target price on shares of Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their price target on Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, BMO Capital Markets boosted their price objective on Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $151.50.

Vistra Price Performance

The business has a 50-day moving average of $146.83 and a 200 day moving average of $113.39. The firm has a market capitalization of $56.84 billion, a P/E ratio of 31.17, a price-to-earnings-growth 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 company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th were given a dividend of $0.221 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Vistra’s previous quarterly dividend of $0.22. 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 plan on Thursday, November 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Vistra

In other news, EVP Stephen J. Muscato sold 207,100 shares of the stock in a transaction dated 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 owns 318,287 shares in the company, valued at $51,352,424.58. This represents a 39.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott A. Hudson sold 115,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $164.16, for a total transaction of $18,878,400.00. Following the transaction, the executive vice president now directly owns 254,932 shares in the company, valued at $41,849,637.12. The trade was a 31.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,100 shares of company stock worth $55,087,314. 1.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vistra

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in Vistra by 115.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,532,657 shares of the company’s stock valued at $217,758,000 after purchasing an additional 1,356,488 shares during the period. Thrivent Financial for Lutherans grew its position in Vistra by 1,358.2% during the second quarter. Thrivent Financial for Lutherans now owns 1,228,144 shares of the company’s stock valued at $105,596,000 after buying an additional 1,143,918 shares during the period. State Street Corp increased its holdings in Vistra by 6.8% during the third quarter. State Street Corp now owns 16,355,255 shares of the company’s stock worth $1,938,752,000 after buying an additional 1,037,402 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Vistra by 36.0% in the third quarter. Janus Henderson Group PLC now owns 3,781,908 shares of the company’s stock valued at $448,320,000 after acquiring an additional 1,000,307 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake 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 acquiring an additional 893,093 shares during the last quarter. Hedge funds and other 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.