Vistra (NYSE:VST) Trading Down 5% - Here's What Happened

Vistra Corp. (NYSE:VST - Get Free Report)'s stock price dropped 5% during mid-day trading on Thursday . The company traded as low as $153.40 and last traded at $154.52. Approximately 4,819,867 shares were traded during trading, a decline of 30% from the average daily volume of 6,884,115 shares. The stock had previously closed at $162.66.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Guggenheim raised their target price on shares of Vistra from $133.00 to $177.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Royal Bank of Canada lifted their price objective on Vistra from $105.00 to $141.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. UBS Group cut their target price on Vistra from $157.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, October 22nd. BMO Capital Markets raised their price target on Vistra from $146.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group boosted their price target on Vistra from $99.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vistra has a consensus rating of "Buy" and an average price target of $149.10.

Vistra Stock Down 5.0 %

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 firm has a 50 day moving average of $131.23 and a two-hundred day moving average of $101.40. The firm has a market capitalization of $52.57 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09.

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a dividend of $0.221 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Vistra's previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 0.57%. Vistra's payout ratio is 16.42%.

Vistra announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Vistra

In other news, EVP Stephen J. Muscato sold 207,100 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the sale, the executive vice president now directly owns 318,287 shares in the company, valued at approximately $51,352,424.58. The trade was a 39.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott A. Hudson sold 115,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 254,932 shares of the company's stock, valued at $41,849,637.12. This represents a 31.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.42% of the company's stock.

Institutional Trading of Vistra

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Vistra by 17.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 640,976 shares of the company's stock worth $44,645,000 after buying an additional 94,842 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Vistra in the 1st quarter worth about $32,000. Atria Investments Inc bought a new position in shares of Vistra in the 1st quarter worth about $1,675,000. PGGM Investments lifted its stake in shares of Vistra by 559.2% in the 1st quarter. PGGM Investments now owns 41,336 shares of the company's stock valued at $2,879,000 after purchasing an additional 35,065 shares during the period. Finally, Invst LLC bought a new stake in shares of Vistra during the 1st quarter valued at about $1,098,000. Institutional investors and hedge funds 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.