Axxcess Wealth Management LLC Invests $742,000 in Vistra Corp. (NYSE:VST)

Axxcess Wealth Management LLC bought a new position in Vistra Corp. (NYSE:VST) in the third quarter, HoldingsChannel reports. The firm bought 6,260 shares of the company’s stock, valued at approximately $742,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lone Pine Capital LLC boosted its holdings 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 worth $587,932,000 after purchasing an additional 425,126 shares during the period. Castle Hook Partners LP boosted its holdings in shares of Vistra by 470.0% in the 1st quarter. Castle Hook Partners LP now owns 3,769,842 shares of the company’s stock worth $262,569,000 after purchasing an additional 3,108,511 shares during the period. TD Asset Management Inc boosted its holdings in Vistra by 9,668.5% during the 1st quarter. TD Asset Management Inc now owns 2,940,113 shares of the company’s stock valued at $204,779,000 after acquiring an additional 2,910,015 shares during the period. GQG Partners LLC boosted its holdings in Vistra by 25.1% during the 1st quarter. GQG Partners LLC now owns 2,564,705 shares of the company’s stock valued at $178,632,000 after acquiring an additional 514,722 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Vistra by 115.3% during 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 acquiring an additional 1,356,488 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VST shares. Morgan Stanley boosted their price objective on Vistra from $110.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Jefferies Financial Group boosted their price objective on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. UBS Group dropped their price objective on Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BNP Paribas started coverage on Vistra in a report on Monday, October 14th. They set an “outperform” rating and a $231.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on Vistra in a report on Thursday, October 17th. They set an “overweight” rating and a $178.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vistra presently has an average rating of “Buy” and a consensus target price of $145.40.

Vistra Trading Down 2.5 %

Shares of NYSE VST opened at $142.15 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.98 and a debt-to-equity ratio of 2.89. The business has a fifty day simple moving average of $115.58 and a two-hundred day simple moving average of $96.17. The firm has a market cap of $48.84 billion, a PE ratio of 26.52 and a beta of 1.09. Vistra Corp. has a twelve month low of $34.24 and a twelve month high of $149.80.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a dividend of $0.221 per share. The ex-dividend date is Friday, December 20th. This is a positive change from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 0.62%. Vistra’s payout ratio is 16.42%.

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

Vistra 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.