Vistra (NYSE:VST) Stock Price Down 2.8% – Here’s What Happened

Vistra Corp. (NYSE:VST)’s share price 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 recently commented on VST shares. BMO Capital Markets raised their price target on Vistra from $151.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Evercore ISI assumed coverage on shares of Vistra in a research note on Tuesday, January 21st. They set an “outperform” rating and a $202.00 price objective for the company. Morgan Stanley lifted their target price on shares of Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Daiwa Capital Markets started coverage on shares of Vistra in a report on Wednesday. They set a “neutral” rating and a $120.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of Vistra from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.83.

Vistra Stock Performance

The business’s 50-day simple moving average is $159.46 and its 200 day simple moving average is $135.46. The firm has a market cap of $43.56 billion, a P/E ratio of 23.89, a P/E/G ratio of 1.12 and a beta of 1.21. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11.

Vistra Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.2235 per share. This represents a $0.89 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, March 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio is 12.62%.

Vistra declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Vistra

In related news, Director Scott B. Helm sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $139.77, for a total value of $2,795,400.00. Following the transaction, the director now owns 343,350 shares of the company’s stock, valued at approximately $47,990,029.50. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VST. State Street Corp raised its holdings in Vistra by 6.8% in the 3rd quarter. State Street Corp now owns 16,355,255 shares of the company’s stock worth $1,938,752,000 after purchasing an additional 1,037,402 shares during the period. Geode Capital Management LLC raised its stake in shares of Vistra by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 8,539,243 shares of the company’s stock worth $1,174,326,000 after buying an additional 219,055 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Vistra by 63.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,260,363 shares of the company’s stock valued at $863,116,000 after buying an additional 2,433,732 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Vistra by 36.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,781,908 shares of the company’s stock valued at $448,320,000 after acquiring an additional 1,000,307 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Vistra by 10.9% during the 4th quarter. Northern Trust Corp now owns 3,026,484 shares of the company’s stock valued at $417,261,000 after acquiring an additional 296,714 shares during the period. 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.