Vistra (NYSE:VST) Stock Price Down 1% - Here's What Happened

Vistra Corp. (NYSE:VST - Get Free Report)'s share price dropped 1% during trading on Wednesday . The stock traded as low as $99.24 and last traded at $101.18. Approximately 2,435,583 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 7,835,766 shares. The stock had previously closed at $102.19.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Vistra from $203.00 to $186.00 and set an "overweight" rating for the company in a report on Friday, March 28th. UBS Group cut their price target on Vistra from $174.00 to $154.00 and set a "buy" rating for the company in a research note on Friday. BMO Capital Markets boosted their price objective on Vistra from $151.00 to $191.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group started coverage on shares of Vistra in a research report on Friday, April 4th. They set a "neutral" rating and a $134.00 target price for the company. Finally, Daiwa America upgraded shares of Vistra to a "hold" rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Vistra presently has an average rating of "Moderate Buy" and an average target price of $159.69.

Vistra Trading Up 2.3 %

The stock has a market cap of $38.00 billion, a PE ratio of 20.84, a PEG ratio of 1.12 and a beta of 1.21. 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 firm has a fifty day simple moving average of $133.17 and a two-hundred day simple moving average of $141.35.

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Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.2235 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.89 annualized dividend and a dividend yield of 0.80%. This is a boost from Vistra's previous quarterly dividend of $0.22. Vistra's dividend payout ratio (DPR) is 12.62%.

Insider Buying and Selling

In other Vistra news, Director John William Pitesa purchased 1,500 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $126.75 per share, with a total value of $190,125.00. Following the completion of the purchase, the director now owns 3,467 shares of the company's stock, valued at $439,442.25. The trade was a 76.26 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul M. Barbas sold 24,136 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $124.19, for a total transaction of $2,997,449.84. Following the completion of the sale, the director now owns 51,063 shares of the company's stock, valued at approximately $6,341,513.97. The trade was a 32.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vistra

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Vistra during the fourth quarter valued at about $409,087,000. Massachusetts Financial Services Co. MA grew its position in Vistra by 63.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,260,363 shares of the company's stock worth $863,116,000 after acquiring an additional 2,433,732 shares during the last quarter. Capital International Investors purchased a new position in Vistra in the 4th quarter worth approximately $286,414,000. Raymond James Financial Inc. bought a new stake in Vistra in the fourth quarter valued at approximately $237,441,000. Finally, Appaloosa LP boosted its stake in shares of Vistra by 112.5% during the fourth quarter. Appaloosa LP now owns 2,700,000 shares of the company's stock valued at $372,249,000 after purchasing an additional 1,429,612 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

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.