Vistra (NYSE:VST) to Repurchase $1.00 billion in Shares

Vistra (NYSE:VST) declared that its board has initiated a share buyback plan on Thursday, November 7th, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Vistra Price Performance

Shares of NYSE:VST traded up $9.64 during trading on Thursday, reaching $135.73. The stock had a trading volume of 14,869,389 shares, compared to its average volume of 6,946,485. The business has a fifty day moving average price of $110.89 and a 200-day moving average price of $93.99. The stock has a market cap of $46.63 billion, a PE ratio of 101.64 and a beta of 1.09. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.88 and a current ratio of 0.98. Vistra has a 1-year low of $34.24 and a 1-year high of $143.87.

Vistra (NYSE:VST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.69). Vistra had a net margin of 4.61% and a return on equity of 21.05%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, equities analysts forecast that Vistra will post 4.02 earnings per share for the current fiscal year.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a dividend of $0.221 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. Vistra’s dividend payout ratio is 64.71%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Guggenheim increased their price target on shares of Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. BNP Paribas initiated coverage on shares of Vistra in a research note on Monday, October 14th. They set an “outperform” rating and a $231.00 price target on the stock. Morgan Stanley lifted their target price on shares of Vistra from $110.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Royal Bank of Canada lifted their price target on shares of Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $145.40.

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.