Vistra (NYSE:VST) Trading Up 4.4% – Here’s What Happened

21 Nov 2024, 19:48 by Michael Walen · The Markets Daily

Vistra Corp. (NYSE:VST – Get Free Report) shares traded up 4.4% during trading on Thursday . The stock traded as high as $162.27 and last traded at $161.45. 1,890,621 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 6,869,749 shares. The stock had previously closed at $154.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Morgan Stanley lifted their target price on Vistra from $110.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Guggenheim raised their price target on shares of Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. assumed coverage on shares of Vistra in a research note on Thursday, October 17th. They set an “overweight” rating and a $178.00 target price for the company. Finally, Jefferies Financial Group boosted their price target on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $145.40.

Read Our Latest Analysis on Vistra

Vistra Stock Up 7.8 %

The stock has a market capitalization of $56.71 billion, a P/E ratio of 30.86, a PEG ratio of 1.99 and a beta of 1.09. The business has a 50-day simple moving average of $124.02 and a two-hundred day simple moving average of $98.90. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68.

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 issued a $0.221 dividend. This is an increase from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, December 20th. Vistra’s payout ratio is presently 16.42%.

Vistra announced that its Board of Directors has approved a share repurchase program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Vistra

Several large investors have recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new position in Vistra during the second quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Vistra during the 3rd quarter worth about $30,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Vistra during the third quarter worth about $30,000. New Covenant Trust Company N.A. bought a new position in shares of Vistra during the first quarter worth about $32,000. Finally, CVA Family Office LLC boosted its position in 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. Institutional investors and hedge funds own 90.88% of the company’s stock.

Vistra Company Profile

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