Jennison Associates LLC Trims Holdings in Vistra Corp. (NYSE:VST)

Jennison Associates LLC decreased its position in Vistra Corp. (NYSE:VST - Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,380,485 shares of the company's stock after selling 82,539 shares during the period. Jennison Associates LLC owned approximately 0.69% of Vistra worth $282,183,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Redwood Wealth Management Group LLC acquired a new stake in Vistra in the second quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Vistra during the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in Vistra in the first quarter worth $32,000. CVA Family Office LLC raised its stake in Vistra by 1,505.9% in the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company's stock valued at $32,000 after acquiring an additional 256 shares during the period. Finally, EdgeRock Capital LLC bought a new position in Vistra during the second quarter worth about $34,000. Institutional investors own 90.88% of the company's stock.

Vistra Price Performance

Shares of NYSE VST traded down $0.23 during mid-day trading on Wednesday, reaching $154.63. 4,384,084 shares of the company were exchanged, compared to its average volume of 6,887,797. The company's 50 day moving average price is $122.52 and its 200 day moving average price is $98.51. Vistra Corp. has a 52 week low of $34.25 and a 52 week high of $157.72. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68. The stock has a market capitalization of $52.61 billion, a PE ratio of 28.52 and a beta of 1.09.

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 reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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 paid a $0.221 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.88 annualized dividend and a yield of 0.57%. This is a positive change from Vistra's previous quarterly dividend of $0.22. Vistra's dividend payout ratio is currently 16.42%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Guggenheim upped their price target on shares of Vistra from $133.00 to $177.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their target price on Vistra from $105.00 to $141.00 and gave the stock an "outperform" rating in a research report on Thursday, October 3rd. Jefferies Financial Group lifted their price target on Vistra from $99.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. BNP Paribas initiated coverage on Vistra in a report on Monday, October 14th. They set an "outperform" rating and a $231.00 price objective on the stock. Finally, UBS Group decreased their price target on Vistra from $157.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, October 22nd. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Vistra presently has a consensus rating of "Buy" and a consensus price target of $145.40.

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.