Vistra (NYSE:VST) Shares Up 3% – Here’s What Happened

Vistra Corp. (NYSE:VST) was up 3% on Friday . The company traded as high as $160.10 and last traded at $159.20. 960,881 shares changed hands during trading, a decline of 86% from the average daily volume of 6,858,062 shares. The stock had previously closed at $154.52.

Wall Street Analysts Forecast Growth

VST has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on Vistra in a research note on Thursday, October 17th. They issued an “overweight” rating and a $178.00 target price on the stock. BNP Paribas initiated coverage on shares of Vistra in a research note on Monday, October 14th. They issued an “outperform” rating and a $231.00 target price for the company. BMO Capital Markets lifted their price objective on shares of Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada upped their target price on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, UBS Group lowered their price target on Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $149.10.

Vistra Stock Performance

The firm’s fifty day simple moving average is $132.47 and its 200 day simple moving average is $101.77. The company has a market capitalization of $54.68 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.99.

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a dividend of $0.221 per share. This represents a $0.88 annualized dividend and a yield of 0.55%. This is a positive change from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. Vistra’s dividend payout ratio (DPR) is 16.42%.

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

Insider Activity

In related news, EVP Scott A. Hudson sold 115,000 shares of Vistra stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $164.16, for a total value of $18,878,400.00. Following the completion of the transaction, the executive vice president now owns 254,932 shares in the company, valued at $41,849,637.12. The trade was a 31.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen J. Muscato sold 207,100 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 318,287 shares of the company’s stock, valued at approximately $51,352,424.58. The trade was a 39.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Vistra

Large investors have recently bought and sold shares of the company. Empire Life Investments Inc. acquired a new stake in shares of Vistra in the third quarter worth approximately $23,028,000. Terra Nova Asset Management LLC purchased a new stake in shares of Vistra during the third quarter worth $842,000. Czech National Bank grew its holdings in shares of Vistra by 12.4% during the third quarter. Czech National Bank now owns 69,987 shares of the company’s stock worth $8,296,000 after buying an additional 7,747 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Vistra by 12.4% in the third quarter. CIBC Asset Management Inc now owns 50,380 shares of the company’s stock valued at $5,972,000 after buying an additional 5,575 shares during the last quarter. Finally, Viking Fund Management LLC purchased a new position in shares of Vistra in the third quarter worth about $1,185,000. 90.88% of the stock is currently owned by hedge funds and other 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.