Vistra (NYSE:VST) Shares Gap Up – Here’s Why

Vistra Corp. (NYSE:VST)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $154.16, but opened at $158.94. Vistra shares last traded at $163.48, with a volume of 1,459,921 shares traded.

Wall Street Analyst Weigh In

VST has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price objective on shares of Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. started coverage on shares of Vistra in a research note on Thursday, October 17th. They issued an “overweight” rating and a $178.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Guggenheim boosted their target price on shares of Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $149.10.

Vistra Stock Performance

The stock’s 50 day moving average price is $135.20 and its 200 day moving average price is $103.22. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. The company has a market cap of $54.48 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 1.98 and a beta of 1.16.

Vistra Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, December 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio is currently 16.42%.

Vistra announced that its board has initiated a share buyback program on Thursday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Stephen J. Muscato sold 207,100 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 318,287 shares of the company’s stock, valued at approximately $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 can be accessed 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 stock was 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 owns 254,932 shares of the company’s stock, 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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Vistra during the 3rd quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Vistra during the 3rd quarter valued at approximately $30,000. CVA Family Office LLC lifted its stake in Vistra by 1,505.9% during the third quarter. CVA Family Office LLC now owns 273 shares of the company’s stock worth $32,000 after purchasing an additional 256 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Vistra during the third quarter worth $36,000. Finally, Redwood Wealth Management Group LLC bought a new position in Vistra during the second quarter worth $26,000. Hedge funds and other institutional investors 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.