Comerica Bank Lowers Stock Holdings in Vistra Corp. $VST

Key Points

• Comerica Bank cut its stake in Vistra by 43.8% in Q4, selling 58,726 shares and leaving 75,211 shares valued at about $12.13 million.
• Vistra missed quarterly expectations, reporting $2.18 EPS versus a $2.45 consensus and revenue of $4.58 billion versus $5.75 billion, while showing an ROE of 81.09% and a net margin of 5.32%.
• Despite the miss, analysts remain largely positive with an average rating of "Buy" and a consensus price target of $235.87; the company also raised its quarterly dividend to $0.228 (annualized $0.91, ~0.6% yield).

Comerica Bank decreased its position in shares of Vistra Corp. (NYSE:VST - Free Report) by 43.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,211 shares of the company's stock after selling 58,726 shares during the period. Comerica Bank's holdings in Vistra were worth $12,134,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bridgewater Advisors Inc. raised its position in Vistra by 3.1% during the third quarter. Bridgewater Advisors Inc. now owns 1,787 shares of the company's stock valued at $350,000 after purchasing an additional 53 shares in the last quarter. Y.D. More Investments Ltd raised its position in Vistra by 7.1% during the third quarter. Y.D. More Investments Ltd now owns 916 shares of the company's stock valued at $168,000 after purchasing an additional 61 shares in the last quarter. Equitable Holdings Inc. raised its position in Vistra by 0.9% during the third quarter. Equitable Holdings Inc. now owns 7,045 shares of the company's stock valued at $1,380,000 after purchasing an additional 61 shares in the last quarter. Ballentine Partners LLC raised its position in Vistra by 2.0% during the third quarter. Ballentine Partners LLC now owns 3,275 shares of the company's stock valued at $642,000 after purchasing an additional 63 shares in the last quarter. Finally, Wealth Effects LLC raised its position in Vistra by 1.1% during the third quarter. Wealth Effects LLC now owns 5,782 shares of the company's stock valued at $1,133,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Vistra Stock Performance

Vistra stock opened at $161.19 on Wednesday. The stock's 50 day simple moving average is $160.62 and its two-hundred day simple moving average is $168.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.69 and a current ratio of 0.78. The stock has a market cap of $54.57 billion, a price-to-earnings ratio of 74.28, a PEG ratio of 1.01 and a beta of 1.49. Vistra Corp. has a fifty-two week low of $122.30 and a fifty-two week high of $219.82.

Vistra (NYSE:VST - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($0.27). Vistra had a return on equity of 81.09% and a net margin of 5.32%.The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $5.75 billion. As a group, analysts expect that Vistra Corp. will post 8.72 earnings per share for the current fiscal year.

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th were given a $0.228 dividend. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Vistra's previous quarterly dividend of $0.23. Vistra's payout ratio is presently 41.94%.

Insider Activity at Vistra

In other news, EVP Stephanie Zapata Moore sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $160.31, for a total value of $1,603,100.00. Following the sale, the executive vice president directly owned 114,409 shares of the company's stock, valued at $18,340,906.79. The trade was a 8.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VST. Bank of America lowered their price target on Vistra from $231.00 to $218.00 and set a "buy" rating on the stock in a research report on Monday, January 12th. Scotiabank raised their price objective on Vistra from $287.00 to $293.00 and gave the company an "outperform" rating in a research note on Monday, January 12th. BMO Capital Markets reaffirmed an "outperform" rating and set a $241.00 price objective on shares of Vistra in a research note on Monday, March 2nd. The Goldman Sachs Group raised Vistra from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. raised their price objective on Vistra from $239.00 to $240.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $235.87.

Vistra Company Profile

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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