Vistra (NYSE:VST) Shares Gap Up - Here's Why

Vistra Corp. (NYSE:VST - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $154.16, but opened at $158.94. Vistra shares last traded at $163.48, with a volume of 1,459,921 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VST. Royal Bank of Canada lifted their price target on shares of Vistra from $105.00 to $141.00 and gave the stock an "outperform" rating in a research note on Thursday, October 3rd. BNP Paribas began coverage on shares of Vistra in a report on Monday, October 14th. They set an "outperform" rating and a $231.00 price objective on the stock. Guggenheim raised their price objective on shares of Vistra from $133.00 to $177.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Jefferies Financial Group raised their price objective on shares of Vistra from $99.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. began coverage on shares of Vistra in a report on Thursday, October 17th. They set an "overweight" rating and a $178.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vistra currently has an average rating of "Buy" and a consensus target price of $149.10.

Vistra Stock Up 3.9 %

The business's fifty day moving average price is $135.20 and its 200 day moving average price is $103.22. The firm has a market capitalization of $54.48 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.98 and a beta of 1.16. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a $0.221 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.55%. This is a boost from Vistra's previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. Vistra's payout ratio is presently 16.42%.

Vistra declared that its Board of Directors has initiated a stock repurchase plan 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 plans are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Vistra

In other Vistra news, EVP Scott A. Hudson sold 115,000 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $164.16, for a total value of $18,878,400.00. Following the transaction, the executive vice president now directly owns 254,932 shares of the company's stock, valued at approximately $41,849,637.12. The trade was a 31.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 shares were sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the completion of the transaction, the executive vice president now directly owns 318,287 shares in the company, valued at $51,352,424.58. This represents a 39.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vistra

Institutional investors have recently made changes to their positions in the stock. Empire Life Investments Inc. purchased a new stake in shares of Vistra during the 3rd quarter worth $23,028,000. Terra Nova Asset Management LLC purchased a new stake in shares of Vistra during the 3rd quarter worth $842,000. Czech National Bank boosted its position in shares of Vistra by 12.4% during the 3rd quarter. Czech National Bank now owns 69,987 shares of the company's stock worth $8,296,000 after purchasing an additional 7,747 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Vistra by 12.4% during the 3rd quarter. CIBC Asset Management Inc now owns 50,380 shares of the company's stock worth $5,972,000 after purchasing an additional 5,575 shares in the last quarter. Finally, Viking Fund Management LLC purchased a new stake in shares of Vistra in the 3rd quarter worth about $1,185,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

About Vistra

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.

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