Vistra (NYSE:VST) Stock Gets Downgrade from KeyCorp

Key Points

• KeyCorp downgraded Vistra from “overweight” to “sector weight.” Despite the downgrade, analysts’ overall consensus remained “Moderate Buy,” with an average price target of $202.43.
• Vistra shares fell 14.7% on Wednesday to $119.04, near their 12-month low, amid elevated trading volume.
• The company’s latest reported quarter fell short of expectations: earnings were $0.76 per share versus a $1.61 consensus, and revenue was $4.02 billion versus $5.46 billion expected.

Vistra (NYSE:VST - Get Free Report) was downgraded by KeyCorp from an "overweight" rating to a "sector weight" rating in a report released on Wednesday, Benzinga reports.

Other equities research analysts have also issued reports about the stock. Morgan Stanley lowered their price target on shares of Vistra from $227.00 to $226.00 and set an "overweight" rating for the company in a report on Wednesday, October 21st. HSBC assumed coverage on shares of Vistra in a report on Thursday, October 22nd. They issued a "buy" rating and a $190.00 price target on the stock. Siebert Williams Shank began coverage on shares of Vistra in a research report on Friday, October 2nd. They issued a "buy" rating and a $202.00 price objective on the stock. Scotiabank decreased their price objective on shares of Vistra from $207.00 to $189.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, October 28th. Finally, BMO Capital Markets lowered their price objective on shares of Vistra from $231.00 to $210.00 and set an "outperform" rating for the company in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $202.43.

Vistra Trading Down 14.7%

Vistra stock traded down $20.55 during trading hours on Wednesday, reaching $119.04. The company had a trading volume of 6,735,526 shares, compared to its average volume of 5,157,503. The company has a debt-to-equity ratio of 5.87, a current ratio of 0.97 and a quick ratio of 0.87. The company has a 50-day moving average price of $145.11 and a 200 day moving average price of $153.38. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 20.28 and a beta of 1.37. Vistra has a 12-month low of $119.60 and a 12-month high of $196.80.

Vistra (NYSE:VST - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.85). Vistra had a net margin of 11.55% and a return on equity of 108.68%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $5.46 billion. Equities analysts forecast that Vistra will post 9.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Scott Hudson sold 22,222 shares of the firm's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $160.14, for a total value of $3,558,631.08. Following the completion of the sale, the executive vice president owned 308,915 shares of the company's stock, valued at $49,469,648.10. This trade represents a 6.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James A. Burke purchased 4,465 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average price of $135.25 per share, for a total transaction of $603,891.25. Following the acquisition, the chief executive officer owned 1,146,352 shares of the company's stock, valued at $155,044,108. This represents a 0.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On Vistra

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Vistra in the 2nd quarter worth about $4,610,496,000. Envestnet Asset Management Inc. raised its position in Vistra by 16.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 258,337 shares of the company's stock worth $40,979,000 after buying an additional 35,862 shares during the last quarter. Fifth Third Bancorp lifted its stake in Vistra by 95.1% during the 1st quarter. Fifth Third Bancorp now owns 177,199 shares of the company's stock valued at $26,638,000 after acquiring an additional 86,393 shares during the period. Wealth High Governance Capital Ltda bought a new position in Vistra during the 1st quarter valued at about $10,543,000. Finally, Lazard Asset Management LLC lifted its stake in Vistra by 353.5% during the 1st quarter. Lazard Asset Management LLC now owns 11,690 shares of the company's stock valued at $1,757,000 after acquiring an additional 9,112 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Company Profile

Vistra Corp. NYSE: VST is an integrated energy company based in Irving, Texas. The company operates across electricity generation, power distribution support, energy marketing and retail electricity sales, serving residential, commercial and industrial customers primarily in the United States.

Vistra owns and operates a diverse portfolio of power generation and energy storage facilities. Its assets include natural gas, nuclear, coal and renewable generation, as well as battery storage projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.