Bank of America Upgrades Vistra (NYSE:VST) to “Buy”

Bank of America upgraded shares of Vistra (NYSE:VST) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat reports. They currently have $152.00 price target on the stock, down from their prior price target of $164.00.

Other research analysts have also issued research reports about the company. BMO Capital Markets increased their price target on Vistra from $151.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. UBS Group increased their price target on Vistra from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Morgan Stanley increased their price target on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Evercore ISI assumed coverage on Vistra in a report on Tuesday, January 21st. They issued an “outperform” rating and a $202.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Vistra presently has an average rating of “Moderate Buy” and a consensus price target of $162.83.

Vistra Stock Down 10.2 %

VST stock opened at $113.94 on Tuesday. The stock’s 50 day simple moving average is $159.13 and its 200 day simple moving average is $135.40. The company has a market cap of $38.77 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.12 and a beta of 1.21. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. Vistra has a fifty-two week low of $57.50 and a fifty-two week high of $199.84.

Vistra declared that its board has authorized a share buyback plan on Thursday, November 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.2235 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, March 20th. This is a positive change from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio (DPR) is currently 12.62%.

Insider Activity

In related news, Director Scott B. Helm sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total transaction of $2,795,400.00. Following the completion of the sale, the director now directly owns 343,350 shares of the company’s stock, valued at approximately $47,990,029.50. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.42% of the company’s stock.

Institutional Trading of Vistra

A number of institutional investors and hedge funds have recently modified their holdings of VST. Norges Bank purchased a new stake in shares of Vistra during the fourth quarter valued at approximately $409,087,000. 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. Capital International Investors purchased a new stake in Vistra in the fourth quarter worth $286,414,000. Raymond James Financial Inc. purchased a new stake in Vistra in the fourth quarter worth $237,441,000. Finally, Appaloosa LP increased its position in Vistra by 112.5% in the fourth quarter. Appaloosa LP now owns 2,700,000 shares of the company’s stock worth $372,249,000 after buying an additional 1,429,612 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

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.