Alkeon Capital Management LLC Sells 1,190,533 Shares of Vistra Corp. $VST

Key Points

• Alkeon Capital Management significantly reduced its stake in Vistra Corp by 77.0%, now holding 356,357 shares valued at approximately $41.85 million.
• Vistra's stock has experienced a 3.7% decline recently, with a market cap of $64.15 billion and a price-to-earnings ratio of 30.20.
• Vistra declared a quarterly dividend increase to $0.226 per share, with the ex-dividend date set for September 19th, representing an annualized yield of 0.5%.

Alkeon Capital Management LLC reduced its holdings in Vistra Corp. (NYSE:VST - Free Report) by 77.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,357 shares of the company's stock after selling 1,190,533 shares during the quarter. Alkeon Capital Management LLC owned 0.10% of Vistra worth $41,851,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in shares of Vistra during the 1st quarter valued at $209,149,000. GAMMA Investing LLC grew its holdings in shares of Vistra by 10,810.6% in the 1st quarter. GAMMA Investing LLC now owns 633,471 shares of the company's stock worth $74,395,000 after acquiring an additional 627,665 shares during the last quarter. PointState Capital LP grew its holdings in shares of Vistra by 176.7% in the 4th quarter. PointState Capital LP now owns 929,533 shares of the company's stock worth $128,155,000 after acquiring an additional 593,585 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of Vistra in the 4th quarter worth $66,257,000. Finally, Castle Hook Partners LP grew its holdings in shares of Vistra by 13.6% in the 4th quarter. Castle Hook Partners LP now owns 2,964,222 shares of the company's stock worth $408,677,000 after acquiring an additional 353,949 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VST. Melius Research upgraded Vistra to a "strong-buy" rating in a report on Wednesday, August 20th. BMO Capital Markets lifted their target price on Vistra from $191.00 to $229.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Morgan Stanley set a $207.00 target price on Vistra and gave the stock an "overweight" rating in a report on Thursday, August 21st. UBS Group lifted their target price on Vistra from $207.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group raised their target price on Vistra from $179.00 to $203.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $201.43.

Vistra Stock Down 1.1%

VST traded down $2.00 during trading on Friday, reaching $187.73. 5,198,097 shares of the stock traded hands, compared to its average volume of 3,346,336. Vistra Corp. has a fifty-two week low of $72.90 and a fifty-two week high of $216.85. The stock's 50-day simple moving average is $195.43 and its two-hundred day simple moving average is $159.91. The stock has a market cap of $63.61 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 2.96 and a beta of 1.33. The company has a debt-to-equity ratio of 6.58, a current ratio of 0.90 and a quick ratio of 0.80.

Vistra (NYSE:VST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.63 by ($0.62). Vistra had a return on equity of 108.41% and a net margin of 12.90%.The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $5.15 billion. As a group, equities research analysts expect that Vistra Corp. will post 7 EPS for the current year.

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be given a $0.226 dividend. This is an increase from Vistra's previous quarterly dividend of $0.23. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 19th. Vistra's payout ratio is presently 14.35%.

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.