Vistra (NYSE:VST) Trading Down 3.7% on Analyst Downgrade

Vistra Corp. (NYSE:VST)’s share price dropped 3.7% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $203.00 to $186.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Vistra traded as low as $112.00 and last traded at $114.65. Approximately 3,086,991 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 7,706,231 shares. The stock had previously closed at $119.05.

Other analysts have also issued research reports about the stock. Daiwa America upgraded shares of Vistra to a “hold” rating in a research report on Wednesday, March 5th. UBS Group lifted their price objective on Vistra from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. BMO Capital Markets boosted their price objective on Vistra from $151.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Evercore ISI assumed coverage on Vistra in a research report on Tuesday, January 21st. They issued an “outperform” rating and a $202.00 target price on the stock. Finally, Bank of America upgraded Vistra from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $164.00 to $152.00 in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.50.

Insiders Place Their Bets

In other news, Director Paul M. Barbas sold 24,136 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $124.19, for a total value of $2,997,449.84. Following the completion of the sale, the director now owns 51,063 shares of the company’s stock, valued at $6,341,513.97. This represents a 32.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John William Pitesa purchased 1,500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $126.75 per share, with a total value of $190,125.00. Following the acquisition, the director now directly owns 3,467 shares in the company, valued at approximately $439,442.25. The trade was a 76.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Vistra

Large investors have recently modified their holdings of the business. State Street Corp increased its position in shares of Vistra by 6.8% during the 3rd quarter. State Street Corp now owns 16,355,255 shares of the company’s stock worth $1,938,752,000 after purchasing an additional 1,037,402 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Vistra by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 8,539,243 shares of the company’s stock valued at $1,174,326,000 after acquiring an additional 219,055 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Vistra by 63.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,260,363 shares of the company’s stock valued at $863,116,000 after acquiring an additional 2,433,732 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Vistra by 36.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,781,908 shares of the company’s stock valued at $448,320,000 after acquiring an additional 1,000,307 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Vistra by 10.9% in the 4th quarter. Northern Trust Corp now owns 3,026,484 shares of the company’s stock worth $417,261,000 after acquiring an additional 296,714 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Vistra Price Performance

The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. The stock’s 50-day moving average is $145.05 and its two-hundred day moving average is $141.35. The stock has a market cap of $41.50 billion, a PE ratio of 22.76, a PEG ratio of 1.12 and a beta of 1.21.

Vistra Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.2235 dividend. This represents a $0.89 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Thursday, March 20th. This is an increase from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is currently 12.62%.

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.