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

Vistra Corp. (NYSE:VST)’s stock price dropped 4.9% during mid-day trading on Tuesday . The stock traded as low as $136.10 and last traded at $138.15. Approximately 1,727,339 shares changed hands during 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 Analyst Weigh In

A number of research firms have commented on VST. Royal Bank of Canada upped their price target on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. BNP Paribas started coverage on shares of Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 target price for the company. UBS Group dropped their price target 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. Guggenheim increased their price objective on shares of Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Vistra in a report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 target price on the stock. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vistra currently has an average rating of “Buy” and a consensus target price of $149.10.

Vistra Price Performance

The firm has a market cap of $47.25 billion, a PE ratio of 25.77, a P/E/G 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 business’s fifty day moving average is $139.88 and its 200-day moving average is $106.44.

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a $0.221 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is 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 outstanding shares. This repurchase authorization allows the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Vistra

In related news, EVP Stephen J. Muscato sold 207,100 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the transaction, the executive vice president now directly owns 318,287 shares in the company, valued at $51,352,424.58. This trade represents a 39.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott A. Hudson sold 115,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $164.16, for a total transaction of $18,878,400.00. Following the completion of the sale, the executive vice president now directly owns 254,932 shares in the company, valued at approximately $41,849,637.12. This trade represents a 31.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,100 shares of company stock worth $55,087,314. Corporate insiders own 1.42% of the company’s stock.

Institutional Trading of Vistra

Several large investors have recently modified their holdings of VST. State Street Corp lifted its holdings in Vistra by 6.8% in 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 period. Lone Pine Capital LLC lifted its stake in shares of Vistra by 6.6% in the 2nd quarter. Lone Pine Capital LLC now owns 6,838,007 shares of the company’s stock valued at $587,932,000 after purchasing an additional 425,126 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Vistra by 51.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,826,631 shares of the company’s stock valued at $453,609,000 after purchasing an additional 1,293,974 shares in the last quarter. Janus Henderson Group PLC grew 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 worth $448,320,000 after purchasing an additional 1,000,307 shares during the period. Finally, Castle Hook Partners LP raised its holdings in Vistra by 33.5% in the third quarter. Castle Hook Partners LP now owns 2,610,273 shares of the company’s stock worth $309,422,000 after purchasing an additional 654,568 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Vistra Company Profile

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.