OP Asset Management Ltd Acquires New Stake in Vistra Corp. $VST

Key Points

• OP Asset Management disclosed a new stake in Vistra Corp., buying 173,581 shares valued at about $26.1 million in the first quarter.
• Vistra reported strong quarterly results, posting earnings of $2.87 per share versus the $1.32 estimate and revenue of $5.64 billion versus expectations of $5.22 billion.
• The company raised its quarterly dividend to $0.229 per share, while analysts remain broadly bullish with a consensus Buy rating and average price target of $230.31.

OP Asset Management Ltd bought a new position in Vistra Corp. (NYSE:VST - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 173,581 shares of the company's stock, valued at approximately $26,094,000. OP Asset Management Ltd owned about 0.05% of Vistra as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Vistra in the 4th quarter worth approximately $746,729,000. Capital World Investors bought a new stake in Vistra during the fourth quarter valued at approximately $574,499,000. Rubric Capital Management LP bought a new stake in Vistra during the fourth quarter valued at approximately $322,660,000. Amundi increased its holdings in Vistra by 72.3% during the fourth quarter. Amundi now owns 1,949,568 shares of the company's stock valued at $314,524,000 after buying an additional 817,876 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Vistra by 585.0% during the fourth quarter. Corient Private Wealth LLC now owns 907,611 shares of the company's stock valued at $146,425,000 after buying an additional 775,104 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Vistra Stock Performance

VST opened at $162.62 on Thursday. The firm has a market cap of $54.83 billion, a P/E ratio of 27.24 and a beta of 1.40. Vistra Corp. has a 1-year low of $132.66 and a 1-year high of $219.82. The company has a 50 day simple moving average of $154.74 and a two-hundred day simple moving average of $159.34. The company has a debt-to-equity ratio of 5.51, a current ratio of 0.90 and a quick ratio of 0.79.

Vistra (NYSE:VST - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $1.55. The firm had revenue of $5.64 billion during the quarter, compared to analysts' expectations of $5.22 billion. Vistra had a net margin of 11.52% and a return on equity of 105.64%. Equities analysts forecast that Vistra Corp. will post 9.31 earnings per share for the current fiscal year.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a $0.229 dividend. 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 (DPR) is currently 15.41%.

Insiders Place Their Bets

In other news, Director Paul M. Barbas sold 244 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $153.00, for a total value of $37,332.00. Following the completion of the transaction, the director owned 53,006 shares of the company's stock, valued at $8,109,918. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Scott B. Helm sold 25,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $160.00, for a total value of $4,000,000.00. Following the sale, the director owned 232,200 shares of the company's stock, valued at $37,152,000. This represents a 9.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,588 shares of company stock valued at $6,739,227 in the last ninety days. Insiders own 0.92% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VST. Morgan Stanley reiterated an "overweight" rating and set a $210.00 price target on shares of Vistra in a research note on Wednesday. Sanford C. Bernstein set a $187.00 price objective on Vistra and gave the stock an "outperform" rating in a research note on Tuesday, June 16th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $190.00 target price on shares of Vistra in a report on Thursday, May 21st. BMO Capital Markets reiterated an "outperform" rating and set a $241.00 target price on shares of Vistra in a research report on Monday, March 2nd. Finally, Seaport Research Partners restated a "buy" rating and issued a $230.00 price target on shares of Vistra in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $230.31.

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.

Want to see what other hedge funds are holding VST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vistra Corp. (NYSE:VST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.