Nippon Life Global Investors Americas Inc. Cuts Holdings in Vistra Corp. (NYSE:VST)

Nippon Life Global Investors Americas Inc. lowered its holdings in Vistra Corp. (NYSE:VST) by 24.9% in the 2nd quarter, Holdings Channel reports. The firm owned 297,480 shares of the company’s stock after selling 98,580 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Vistra were worth $25,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. bought a new position in Vistra during the 1st quarter valued at about $26,000. Redwood Wealth Management Group LLC bought a new position in Vistra during the second quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new stake in Vistra in the first quarter worth approximately $32,000. EdgeRock Capital LLC purchased a new stake in Vistra in the second quarter worth approximately $34,000. Finally, Riverview Trust Co bought a new stake in Vistra in the 1st quarter worth approximately $39,000. 90.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. BMO Capital Markets raised their price target on Vistra from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley raised their target price on Vistra from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group initiated coverage on Vistra in a research note on Friday, September 13th. They set a “buy” rating and a $99.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $100.83.

Vistra Stock Performance

NYSE:VST opened at $107.88 on Monday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.88 and a current ratio of 0.98. The stock has a 50-day simple moving average of $80.15 and a two-hundred day simple moving average of $80.85. The firm has a market capitalization of $37.48 billion, a PE ratio of 66.18 and a beta of 1.08. Vistra Corp. has a 52-week low of $31.16 and a 52-week high of $108.26.

Vistra (NYSE:VST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.69). Vistra had a net margin of 4.61% and a return on equity of 21.05%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. Analysts forecast that Vistra Corp. will post 4.52 EPS for the current year.

Vistra Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.2195 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.81%. This is an increase from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, September 20th. Vistra’s dividend payout ratio (DPR) is presently 53.37%.

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.