JAT Capital Mgmt LP Invests $22.28 Million in Vistra Corp. $VST

Key Points

• JAT Capital Mgmt LP has acquired a new position in Vistra Corp., purchasing 189,716 shares valued at approximately $22.28 million, making it the fund's 6th largest holding.
• Vistra has increased its quarterly dividend to $0.226 per share, representing an annualized yield of 0.5% and reflecting a boost from the previous dividend of $0.23.
• Despite a miss in quarterly earnings with an EPS of $1.01 compared to expectations of $1.63, research analysts maintain a positive outlook with an average target price of $201.43 for the stock.

JAT Capital Mgmt LP acquired a new position in shares of Vistra Corp. (NYSE:VST - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 189,716 shares of the company's stock, valued at approximately $22,280,000. Vistra comprises about 7.9% of JAT Capital Mgmt LP's portfolio, making the stock its 6th biggest holding. JAT Capital Mgmt LP owned 0.06% of Vistra as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Cordatus Wealth Management LLC raised its stake in shares of Vistra by 2.0% during the 1st quarter. Cordatus Wealth Management LLC now owns 4,198 shares of the company's stock worth $493,000 after purchasing an additional 83 shares during the period. Oak Grove Capital LLC raised its stake in shares of Vistra by 0.5% during the 1st quarter. Oak Grove Capital LLC now owns 19,760 shares of the company's stock worth $2,321,000 after purchasing an additional 90 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Vistra by 1.6% during the 4th quarter. Sunbelt Securities Inc. now owns 6,409 shares of the company's stock worth $898,000 after purchasing an additional 98 shares during the period. Dynasty Wealth Management LLC raised its stake in shares of Vistra by 4.9% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,266 shares of the company's stock worth $266,000 after purchasing an additional 105 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in shares of Vistra by 1.6% during the 4th quarter. EP Wealth Advisors LLC now owns 7,980 shares of the company's stock worth $1,100,000 after purchasing an additional 125 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Price Performance

Shares of Vistra stock traded down $2.00 on Friday, reaching $187.73. The stock had a trading volume of 5,198,097 shares, compared to its average volume of 3,346,336. Vistra Corp. has a 1 year low of $72.90 and a 1 year high of $216.85. The company has a market cap of $63.61 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 2.96 and a beta of 1.33. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 6.58. The business's 50 day moving average is $195.43 and its two-hundred day moving average is $159.91.

Vistra (NYSE:VST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.01 earnings per share (EPS) 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 firm had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $5.15 billion. As a group, research analysts anticipate that Vistra Corp. will post 7 EPS for the current year.

Vistra Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be issued a $0.226 dividend. The ex-dividend date of this dividend is Friday, September 19th. This is a positive change 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%. Vistra's payout ratio is currently 14.35%.

Wall Street Analyst Weigh In

VST has been the topic of a number of recent analyst reports. Morgan Stanley set a $207.00 target price on Vistra and gave the stock an "overweight" rating in a research note 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 research note on Friday, July 25th. Melius assumed coverage on Vistra in a research note on Wednesday, August 20th. They issued a "buy" rating and a $295.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Vistra from $179.00 to $203.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group boosted their price objective on Vistra from $145.00 to $241.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $201.43.

Vistra 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.