Vistra (NYSE:VST) Stock Price Down 2.8% – What’s Next?

Vistra Corp. (NYSE:VST) shares dropped 2.8% during trading on Wednesday . The stock traded as low as $121.40 and last traded at $123.38. Approximately 2,558,780 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 9,463,354 shares. The stock had previously closed at $126.94.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Daiwa Capital Markets initiated coverage on Vistra in a research report on Wednesday. They set a “neutral” rating and a $120.00 price objective on the stock. Daiwa America upgraded Vistra to a “hold” rating in a report on Wednesday. Bank of America raised shares of Vistra from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $164.00 to $152.00 in a research note on Tuesday. Morgan Stanley increased their target price on shares of Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets lifted their price target on shares of Vistra from $151.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

Vistra Stock Performance

The firm’s 50-day simple moving average is $158.53 and its 200-day simple moving average is $135.25. The company has a market capitalization of $38.77 billion, a PE ratio of 21.26, a PEG ratio of 1.12 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.2235 per share. This represents a $0.89 annualized dividend and a yield of 0.78%. This is a boost from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, March 20th. Vistra’s dividend payout ratio is presently 12.62%.

Vistra declared that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Vistra

In other news, Director Scott B. Helm sold 20,000 shares of the stock in a transaction on 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 owns 343,350 shares in the company, valued at approximately $47,990,029.50. This represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Vistra

A number of large investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its position in Vistra by 28.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,120 shares of the company’s stock worth $251,000 after acquiring an additional 471 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Vistra by 3.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 74,354 shares of the company’s stock valued at $8,814,000 after acquiring an additional 2,738 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Vistra by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 130,149 shares of the company’s stock worth $15,428,000 after purchasing an additional 508 shares during the period. Advisor Resource Council acquired a new stake in Vistra during the third quarter worth about $220,000. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Vistra by 480.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 152,891 shares of the company’s stock valued at $18,124,000 after acquiring an additional 126,549 shares during the period. 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.