Vistra (NYSE:VST) Shares Down 7.4% – Here’s What Happened

Shares of Vistra Corp. (NYSE:VST) traded down 7.4% on Monday . The company traded as low as $146.35 and last traded at $148.19. 2,362,667 shares traded hands during trading, a decline of 65% from the average session volume of 6,784,055 shares. The stock had previously closed at $159.98.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. UBS Group lowered their price target on Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. assumed coverage on Vistra in a report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price target for the company. Guggenheim increased their price target on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, BNP Paribas initiated coverage on Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vistra has an average rating of “Buy” and a consensus price target of $149.10.

Vistra Stock Performance

The firm has a market cap of $48.99 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 2.05 and a beta of 1.16. 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 stock has a 50 day moving average of $138.80 and a 200 day moving average of $105.29.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be paid a dividend of $0.221 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a yield of 0.61%. Vistra’s dividend payout ratio is presently 16.42%.

Vistra announced that its board has authorized a stock repurchase program on Thursday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Stephen J. Muscato sold 207,100 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 318,287 shares of the company’s stock, valued at $51,352,424.58. This represents a 39.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott A. Hudson sold 115,000 shares of Vistra stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $164.16, for a total transaction of $18,878,400.00. Following the transaction, the executive vice president now directly owns 254,932 shares in the company, valued at approximately $41,849,637.12. This represents a 31.09 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Vistra

Several hedge funds have recently modified their holdings of VST. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Vistra during the 3rd quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Vistra during the 3rd quarter valued at $30,000. CVA Family Office LLC lifted its holdings in shares of Vistra by 1,505.9% during the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock worth $32,000 after acquiring an additional 256 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Vistra during the 3rd quarter worth $36,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Vistra during the 2nd quarter worth $26,000. Institutional investors 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.