Jennison Associates LLC Sells 332,704 Shares of Vistra Corp. $VST

Key Points

• Jennison Associates LLC reduced its stake in Vistra by 19.7%, selling 332,704 shares and retaining 1,353,285 shares (about 0.40% of the company) valued at roughly $218.3 million.
• Vistra missed quarterly estimates, reporting EPS of $2.18 versus $2.45 expected and revenue of $4.58B versus $5.75B expected; the stock trades at a high P/E of 72.38 and yields about 0.6% after a slight dividend increase.
• Insider activity: EVP Stephanie Zapata Moore sold 10,000 shares at an average $160.31 for $1.603M, cutting her holdings by 8.04% to 114,409 shares.

Jennison Associates LLC lessened its holdings in shares of Vistra Corp. (NYSE:VST - Free Report) by 19.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,353,285 shares of the company's stock after selling 332,704 shares during the period. Jennison Associates LLC owned 0.40% of Vistra worth $218,326,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in shares of Vistra during the third quarter worth $25,000. Quent Capital LLC bought a new stake in shares of Vistra during the third quarter worth $25,000. Archer Investment Corp grew its holdings in shares of Vistra by 2,700.0% during the third quarter. Archer Investment Corp now owns 140 shares of the company's stock worth $27,000 after purchasing an additional 135 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Vistra during the third quarter worth $28,000. Finally, Orion Capital Management LLC bought a new stake in shares of Vistra during the third quarter worth $29,000. Institutional investors own 90.88% of the company's stock.

Insiders Place Their Bets

In other Vistra news, EVP Stephanie Zapata Moore sold 10,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 114,409 shares of the company's stock, valued at approximately $18,340,906.79. This represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company's stock.

Vistra Trading Up 2.0%

Shares of VST opened at $156.91 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.78 and a debt-to-equity ratio of 6.01. Vistra Corp. has a 12-month low of $133.73 and a 12-month high of $219.82. The firm has a market capitalization of $53.12 billion, a PE ratio of 72.38, a price-to-earnings-growth ratio of 1.01 and a beta of 1.49. The stock's fifty day simple moving average is $160.28 and its 200-day simple moving average is $168.25.

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

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th were paid a $0.228 dividend. The ex-dividend date of this dividend was Friday, March 20th. This is a positive change from Vistra's previous quarterly dividend of $0.23. This represents a $0.91 annualized dividend and a yield of 0.6%. Vistra's payout ratio is currently 41.94%.

Analysts Set New Price Targets

VST has been the topic of several research analyst reports. Wells Fargo & Company decreased their target price on Vistra from $236.00 to $234.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. Raymond James Financial set a $208.00 price target on Vistra in a research note on Monday. Scotiabank upped their price target on Vistra from $287.00 to $293.00 and gave the company an "outperform" rating in a research note on Monday, January 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $208.00 price target on shares of Vistra in a research note on Tuesday, April 21st. Finally, Bank of America cut their price target on Vistra from $231.00 to $218.00 and set a "buy" rating on the stock in a research note on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $235.87.

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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