Vistra (NYSE:VST) Sets New 12-Month Low on Analyst Downgrade

Key Points

• Vistra shares fell to a new 52-week low of $124.79 after KeyCorp downgraded the stock from overweight to sector weight; the shares had closed at $139.59 the prior session.
• Despite the downgrade, analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $202.43.
• Vistra’s latest quarterly results missed expectations, with EPS of $0.76 versus a $1.61 consensus and revenue of $4.02 billion versus $5.46 billion expected.

Vistra Corp. (NYSE:VST - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday after KeyCorp downgraded the stock from an overweight rating to a sector weight rating. The company traded as low as $124.79 and last traded at $124.83, with a volume of 3,339,573 shares traded. The stock had previously closed at $139.59.

Several other analysts have also issued reports on VST. Mizuho began coverage on Vistra in a report on Monday, August 24th. They set an "outperform" rating and a $169.00 target price on the stock. UBS Group set a $176.00 price target on Vistra in a research report on Wednesday, October 21st. Siebert Williams Shank began coverage on Vistra in a research note on Friday, October 2nd. They set a "buy" rating and a $202.00 price objective on the stock. Scotiabank dropped their price objective on Vistra from $207.00 to $189.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, October 28th. Finally, Wells Fargo & Company cut their price objective on Vistra from $212.00 to $198.00 and set an "overweight" rating for the company in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $202.43.

Insiders Place Their Bets

In other news, EVP Scott A. Hudson sold 44,444 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $151.82, for a total value of $6,747,488.08. Following the transaction, the executive vice president directly owned 331,137 shares of the company's stock, valued at $50,273,219.34. This represents a 11.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James Burke bought 4,465 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were bought at an average price of $135.25 per share, with a total value of $603,891.25. Following the purchase, the chief executive officer owned 1,146,352 shares in the company, valued at $155,044,108. The trade was a 0.39% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Vistra in the second quarter valued at approximately $4,610,496,000. State Street Corp lifted its stake in shares of Vistra by 0.5% during the 2nd quarter. State Street Corp now owns 16,850,452 shares of the company's stock valued at $2,672,987,000 after buying an additional 79,972 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Vistra by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,436,880 shares of the company's stock worth $516,616,000 after buying an additional 32,982 shares during the period. Bank of America Corp DE bought a new position in Vistra in the 2nd quarter worth approximately $468,354,000. Finally, Bank of New York Mellon Corp bought a new position in Vistra in the 2nd quarter worth approximately $381,938,000. 90.88% of the stock is owned by institutional investors.

Vistra Price Performance

The firm has a market capitalization of $40.22 billion, a PE ratio of 20.26 and a beta of 1.37. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.87 and a current ratio of 0.97. The business's 50 day moving average is $145.11 and its two-hundred day moving average is $153.38.

Vistra (NYSE:VST - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.61 by ($0.85). Vistra had a net margin of 11.55% and a return on equity of 108.68%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $5.46 billion. Equities research analysts anticipate that Vistra Corp. will post 9.19 earnings per share for the current fiscal year.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 22nd will be given a dividend of $0.2310 per share. The ex-dividend date is Tuesday, December 22nd. This is a positive change from Vistra's previous quarterly dividend of $0.23. This represents a $0.92 annualized dividend and a yield of 0.8%. Vistra's dividend payout ratio (DPR) is presently 15.54%.

About Vistra

Vistra Corp. NYSE: VST is an integrated energy company based in Irving, Texas. The company operates across electricity generation, power distribution support, energy marketing and retail electricity sales, serving residential, commercial and industrial customers primarily in the United States.

Vistra owns and operates a diverse portfolio of power generation and energy storage facilities. Its assets include natural gas, nuclear, coal and renewable generation, as well as battery storage projects.

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