Brigade Capital Management LP Buys Shares of 51,200 Vistra Corp. $VST

Brigade Capital Management LP purchased a new position in shares of Vistra Corp. (NYSE:VST - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 51,200 shares of the company's stock, valued at approximately $8,122,000. Vistra comprises approximately 1.5% of Brigade Capital Management LP's investment portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Vistra in the 2nd quarter worth about $4,610,496,000. Norges Bank purchased a new position in shares of Vistra during the 4th quarter worth about $746,729,000. Capital World Investors acquired a new stake in shares of Vistra in the fourth quarter worth approximately $574,499,000. Bank of New York Mellon Corp purchased a new stake in Vistra in the second quarter valued at approximately $381,938,000. Finally, Rubric Capital Management LP acquired a new position in Vistra during the fourth quarter worth approximately $322,660,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BNP Paribas Exane set a $255.00 price target on shares of Vistra in a report on Wednesday, August 19th. Weiss Ratings cut Vistra from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Scotiabank upped their price target on shares of Vistra from $293.00 to $298.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Zacks Research downgraded shares of Vistra from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, UBS Group dropped their target price on Vistra from $233.00 to $227.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Vistra has a consensus rating of "Moderate Buy" and an average target price of $223.53.

Vistra Stock Performance

Shares of VST stock opened at $135.74 on Tuesday. The company has a market cap of $45.56 billion, a P/E ratio of 22.93 and a beta of 1.41. The business has a 50 day moving average of $153.38 and a two-hundred day moving average of $155.72. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 5.87. Vistra Corp. has a 52 week low of $132.66 and a 52 week high of $219.82.

Vistra (NYSE:VST - Get Free Report) last issued its earnings results 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). The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $5.46 billion. Vistra had a return on equity of 108.68% and a net margin of 11.55%. As a group, analysts anticipate that Vistra Corp. will post 9.23 EPS for the current year.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Vistra's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, September 21st. Vistra's dividend payout ratio is 15.54%.

Insider Activity at Vistra

In related news, CAO Margaret Montemayor sold 4,600 shares of Vistra stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $160.00, for a total transaction of $736,000.00. Following the transaction, the chief accounting officer directly owned 9,760 shares of the company's stock, valued at $1,561,600. The trade was a 32.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Sult sold 6,500 shares of Vistra stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $170.00, for a total transaction of $1,105,000.00. Following the completion of the transaction, the director directly owned 70,714 shares in the company, valued at $12,021,380. This represents a 8.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,588 shares of company stock valued at $6,739,227 over the last quarter. Corporate insiders own 0.92% of the company's stock.

About Vistra

Vistra NYSE: VST is an integrated power company that develops, owns and operates electricity generation and retail businesses in the United States. The company's operations span wholesale power production—through a diversified fleet of thermal and lower‑carbon generation assets—and retail electricity supply to residential, commercial and industrial customers. Vistra serves organized wholesale markets and competitive retail markets, with a notable presence in Texas and other regional U.S. power markets.

Vistra's core activities include the ownership and operation of generation facilities, the commercial dispatch and optimization of those assets into wholesale markets, and the sale of electricity and related services to end-use customers through its retail brands.

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