Norges Bank Buys Shares of 4,628,580 Vistra Corp. $VST

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Vistra Corp., buying 4,628,580 shares worth about $746.7 million, or roughly 1.37% of the company.
• Vistra reported better-than-expected quarterly results, with EPS of $2.87 versus estimates of $1.32 and revenue of $5.64 billion versus expectations of $5.22 billion.
• The company also raised its quarterly dividend to $0.229 per share, while analysts remain broadly positive with a consensus Buy rating and average target price of $233.33.

Norges Bank bought a new stake in Vistra Corp. (NYSE:VST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,628,580 shares of the company's stock, valued at approximately $746,729,000. Norges Bank owned about 1.37% of Vistra as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bridgewater Advisors Inc. lifted its stake in shares of Vistra by 3.1% in the third quarter. Bridgewater Advisors Inc. now owns 1,787 shares of the company's stock worth $350,000 after buying an additional 53 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Vistra by 7.1% in the third quarter. Y.D. More Investments Ltd now owns 916 shares of the company's stock worth $168,000 after buying an additional 61 shares during the last quarter. Equitable Holdings Inc. increased its position in Vistra by 0.9% during the third quarter. Equitable Holdings Inc. now owns 7,045 shares of the company's stock worth $1,380,000 after acquiring an additional 61 shares during the period. Ballentine Partners LLC increased its position in Vistra by 2.0% during the third quarter. Ballentine Partners LLC now owns 3,275 shares of the company's stock worth $642,000 after acquiring an additional 63 shares during the period. Finally, SOA Wealth Advisors LLC. increased its position in Vistra by 21.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 365 shares of the company's stock worth $59,000 after acquiring an additional 65 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vistra

In other Vistra news, CAO Margaret Montemayor sold 5,000 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $164.96, for a total transaction of $824,800.00. Following the transaction, the chief accounting officer directly owned 14,360 shares in the company, valued at approximately $2,368,825.60. This represents a 25.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephanie Zapata Moore sold 10,000 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $160.31, for a total value of $1,603,100.00. Following the completion of the sale, the executive vice president directly owned 114,409 shares of the company's stock, valued at approximately $18,340,906.79. This trade represents a 8.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.92% of the company's stock.

Vistra Stock Down 0.1%

VST opened at $160.10 on Friday. The firm's 50-day simple moving average is $154.20 and its 200-day simple moving average is $162.07. The company has a debt-to-equity ratio of 5.51, a quick ratio of 0.79 and a current ratio of 0.90. Vistra Corp. has a twelve month low of $132.66 and a twelve month high of $219.82. The firm has a market cap of $53.98 billion, a price-to-earnings ratio of 26.82 and a beta of 1.43.

Vistra (NYSE:VST - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $1.55. The business had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.22 billion. Vistra had a net margin of 11.52% and a return on equity of 105.64%. Equities research analysts anticipate that Vistra Corp. will post 9.3 EPS for the current fiscal year.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.229 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 22nd. This is a boost from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio is currently 15.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of Vistra from $253.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Jefferies Financial Group reaffirmed a "buy" rating and set a $190.00 target price on shares of Vistra in a research report on Thursday, May 21st. The Goldman Sachs Group raised shares of Vistra from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Friday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of Vistra from $240.00 to $231.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Finally, Raymond James Financial set a $208.00 target price on shares of Vistra in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Vistra has a consensus rating of "Buy" and a consensus target price of $233.33.

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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