Vistra (NYSE:VST) Stock Price Down 1.3% – What’s Next?

Vistra Corp. (NYSE:VST)’s share price dropped 1.3% during mid-day trading on Wednesday . The company traded as low as $151.26 and last traded at $152.87. Approximately 1,576,530 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 6,878,297 shares. The stock had previously closed at $154.86.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VST shares. JPMorgan Chase & Co. began coverage on shares of Vistra in a research report on Thursday, October 17th. They set an “overweight” rating and a $178.00 target price for the company. Morgan Stanley upped their price target on Vistra from $110.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Royal Bank of Canada raised their price objective on Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. BNP Paribas started coverage on Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 target price on the stock. Finally, BMO Capital Markets increased their price target on Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $145.40.

Vistra Price Performance

The stock has a fifty day moving average of $125.72 and a 200 day moving average of $99.36. The stock has a market cap of $56.32 billion, a price-to-earnings ratio of 30.88, a P/E/G ratio of 1.99 and a beta of 1.09. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.99.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a dividend of $0.221 per share. The ex-dividend date is Friday, December 20th. This is an increase from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 0.53%. Vistra’s payout ratio is currently 16.42%.

Vistra declared that its board has authorized a stock repurchase plan on Thursday, November 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Vistra

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of Vistra during the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Vistra during the third quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Vistra in the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Vistra in the first quarter valued at approximately $32,000. Finally, CVA Family Office LLC increased its position in shares of Vistra by 1,505.9% in the third quarter. CVA Family Office LLC now owns 273 shares of the company’s stock valued at $32,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

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.