Vistra (NYSE:VST) Trading Down 7% – Here’s Why

Vistra Corp. (NYSE:VST) shares were down 7% during trading on Thursday . The company traded as low as $134.61 and last traded at $137.76. Approximately 6,420,495 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 9,037,406 shares. The stock had previously closed at $148.19.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Vistra from $151.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Morgan Stanley upped their price objective on Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Evercore ISI started coverage on Vistra in a research note on Tuesday, January 21st. They set an “outperform” rating and a $202.00 target price for the company. UBS Group boosted their target price on Vistra from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Bank of America assumed coverage on Vistra in a report on Monday, January 27th. They set a “neutral” rating and a $206.00 price target for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $171.64.

Vistra Price Performance

The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. The company has a 50 day moving average of $160.25 and a 200-day moving average of $133.67. The firm has a market capitalization of $45.54 billion, a P/E ratio of 24.97, a P/E/G ratio of 1.12 and a beta of 1.22.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a $0.2235 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, March 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is presently 16.60%.

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

Insiders Place Their Bets

In related news, Director Scott B. Helm sold 20,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 343,350 shares of the company’s stock, valued at $47,990,029.50. This represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Institutional Trading of Vistra

A number of institutional investors have recently modified their holdings of the stock. Lionsbridge Wealth Management LLC bought a new stake in Vistra during the fourth quarter worth about $277,000. Dakota Wealth Management acquired a new position in shares of Vistra in the 4th quarter valued at approximately $231,000. Empire Life Investments Inc. bought a new stake in shares of Vistra during the 3rd quarter worth approximately $23,028,000. Retirement Systems of Alabama boosted its position in shares of Vistra by 9.6% during the 3rd quarter. Retirement Systems of Alabama now owns 78,965 shares of the company’s stock worth $9,361,000 after acquiring an additional 6,920 shares in the last quarter. Finally, First Sabrepoint Capital Management LP bought a new position in Vistra in the third quarter valued at approximately $17,781,000. 90.88% of the stock is currently 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.