Vistra (NYSE:VST) Sets New 52-Week High – Here’s Why

Shares of Vistra Corp. (NYSE:VST) reached a new 52-week high on Saturday . The stock traded as high as $169.19 and last traded at $167.08, with a volume of 9668696 shares traded. The stock had previously closed at $160.81.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VST shares. Morgan Stanley lifted their price objective on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group lifted their price objective on Vistra from $161.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. BMO Capital Markets boosted their target price on Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group boosted their target price on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their target price on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $151.50.

Vistra Price Performance

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 business has a fifty day simple moving average of $147.78 and a 200 day simple moving average of $114.31. The stock has a market capitalization of $56.84 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th were issued a dividend of $0.221 per share. This is a positive change from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, December 20th. Vistra’s payout ratio is currently 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 shares. This buyback authorization authorizes the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Scott A. Hudson sold 115,000 shares of the business’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 transaction, the executive vice president now owns 254,932 shares in the company, valued at $41,849,637.12. The trade was a 31.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott B. Helm sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total value of $2,795,400.00. Following the completion of the transaction, the director now owns 343,350 shares in the company, valued at $47,990,029.50. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,100 shares of company stock valued at $55,087,314. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Vistra

Institutional investors have recently bought and sold shares of the company. Empire Life Investments Inc. purchased a new position in Vistra in the third quarter valued at approximately $23,028,000. Retirement Systems of Alabama lifted its stake in Vistra by 9.6% in the third quarter. Retirement Systems of Alabama now owns 78,965 shares of the company’s stock valued at $9,361,000 after purchasing an additional 6,920 shares during the last quarter. Terra Nova Asset Management LLC bought a new stake in Vistra during the 3rd quarter valued at $842,000. Czech National Bank raised its holdings in Vistra by 12.4% during the 3rd quarter. Czech National Bank now owns 69,987 shares of the company’s stock valued at $8,296,000 after acquiring an additional 7,747 shares during the period. Finally, First Sabrepoint Capital Management LP bought a new stake in Vistra during the 3rd quarter valued at $17,781,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

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.