Freestone Grove Partners LP Buys Shares of 47,957 Vistra Corp. $VST

Key Points

• Freestone Grove Partners bought 47,957 Vistra shares worth approximately $7.6 million in the second quarter. Institutional investors collectively own 90.88% of the company’s stock.
• Wall Street remains broadly positive, with one Strong Buy, 14 Buy and two Hold ratings; the stock has a “Moderate Buy” consensus and an average price target of $223.53.
• Vistra’s latest quarterly results fell short of expectations, reporting $0.76 in earnings per share versus a $1.61 consensus and $4.02 billion in revenue versus $5.46 billion expected. Shares opened at $137.16, near their 52-week low, while the company maintains a $0.23 quarterly dividend.

Freestone Grove Partners LP purchased a new stake in shares of Vistra Corp. (NYSE:VST - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 47,957 shares of the company's stock, valued at approximately $7,607,000.

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

Insider Activity at Vistra

In related news, Director Scott B. Helm sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $160.00, for a total value of $4,000,000.00. Following the sale, the director directly owned 232,200 shares of the company's stock, valued at approximately $37,152,000. This trade represents a 9.72% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John R. Sult sold 6,500 shares of the firm's 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 sale, the director directly owned 70,714 shares in the company, valued at $12,021,380. This represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 36,588 shares of company stock valued at $5,914,427. Insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Mizuho started coverage on shares of Vistra in a research note on Monday. They issued an "outperform" rating and a $169.00 price objective on the stock. Zacks Research downgraded shares of Vistra from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 18th. Scotiabank increased their price target on shares of Vistra from $293.00 to $298.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. BNP Paribas Exane set a $255.00 price target on shares of Vistra in a research report on Wednesday, August 19th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $190.00 price objective on shares of Vistra in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Vistra has an average rating of "Moderate Buy" and an average price target of $223.53.

Vistra Price Performance

Shares of NYSE:VST opened at $137.16 on Friday. The company has a market cap of $46.04 billion, a P/E ratio of 23.17 and a beta of 1.41. 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. The business has a fifty day simple moving average of $151.62 and a 200-day simple moving average of $155.48.

Vistra (NYSE:VST - Get Free Report) last released 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). Vistra had a return on equity of 108.68% and a net margin of 11.55%.The business had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $5.46 billion. Equities research analysts forecast that Vistra Corp. will post 9.21 EPS for the current year.

Vistra Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, September 21st. This is an increase from Vistra's previous quarterly dividend of $0.23. Vistra's payout ratio is currently 15.54%.

Vistra 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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