Vistra Corp. (NYSE:VST - Get Free Report)'s share price dropped 4.9% during trading on Tuesday . The company traded as low as $136.10 and last traded at $138.15. Approximately 1,727,339 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 6,752,434 shares. The stock had previously closed at $145.33.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. BMO Capital Markets raised their price target on shares of Vistra from $146.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. BNP Paribas started coverage on Vistra in a research report on Monday, October 14th. They set an "outperform" rating and a $231.00 price target on the stock. Royal Bank of Canada lifted their target price on Vistra from $105.00 to $141.00 and gave the company an "outperform" rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. initiated coverage on Vistra in a report on Thursday, October 17th. They set an "overweight" rating and a $178.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of Vistra from $135.00 to $169.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $149.10.
Read Our Latest Analysis on Vistra
Vistra Stock Performance
The firm's 50 day simple moving average is $139.88 and its 200-day simple moving average is $106.44. The company has a market capitalization of $47.56 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 1.86 and a beta of 1.16. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a $0.221 dividend. This is an increase from Vistra's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.88 dividend on an annualized basis and a yield of 0.63%. Vistra's dividend payout ratio is presently 16.42%.
Vistra announced that its Board of Directors has initiated a share buyback program on Thursday, November 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In related news, Director Scott B. Helm sold 20,000 shares of Vistra stock in a transaction 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 in the company, valued at $47,990,029.50. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott A. Hudson sold 115,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $164.16, for a total transaction of $18,878,400.00. Following the sale, the executive vice president now owns 254,932 shares of the company's stock, valued at $41,849,637.12. This trade represents a 31.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 342,100 shares of company stock valued at $55,087,314 over the last three months. 1.42% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Vistra
A number of institutional investors have recently made changes to their positions in VST. Mark Sheptoff Financial Planning LLC acquired a new stake in Vistra during the third quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Vistra during the 3rd quarter worth approximately $30,000. CVA Family Office LLC increased its position in shares of Vistra by 1,505.9% during the third quarter. CVA Family Office LLC now owns 273 shares of the company's stock valued at $32,000 after purchasing an additional 256 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Vistra in the third quarter valued at $36,000. Finally, Redwood Wealth Management Group LLC bought a new position in Vistra in the second quarter worth $26,000. 90.88% of the stock is currently owned by institutional investors.
Vistra Company Profile
(
Get Free Report)
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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