Vistra (NYSE:VST) Shares Gap Down - Here's What Happened

Vistra Corp. (NYSE:VST - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $191.11, but opened at $154.09. Vistra shares last traded at $144.52, with a volume of 8,874,044 shares trading hands.

Analysts Set New Price Targets

VST has been the subject of a number of recent analyst reports. BNP Paribas initiated coverage on Vistra in a research report on Monday, October 14th. They issued an "outperform" rating and a $231.00 price objective for the company. BMO Capital Markets upped their price objective on shares of Vistra from $151.00 to $191.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. assumed coverage on shares of Vistra in a report on Thursday, October 17th. They set an "overweight" rating and a $178.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Vistra from $105.00 to $141.00 and gave the stock an "outperform" rating in a research report on Thursday, October 3rd. Finally, Bank of America started coverage on shares of Vistra in a research note on Monday. They set a "neutral" rating and a $206.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $171.64.

Vistra Stock Performance

The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. The stock's 50-day moving average price is $156.00 and its 200-day moving average price is $120.79. The company has a market capitalization of $46.60 billion, a P/E ratio of 25.55, a P/E/G ratio of 1.77 and a beta of 1.21.

Vistra (NYSE:VST - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $4.01. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $4.96 billion. Vistra had a return on equity of 57.63% and a net margin of 12.51%. During the same quarter last year, the business posted $1.25 EPS. As a group, equities analysts expect that Vistra Corp. will post 4.48 EPS for the current year.

Vistra Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 20th were issued a $0.221 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.65%. This is a positive change from Vistra's previous quarterly dividend of $0.22. The ex-dividend date was Friday, December 20th. Vistra's dividend payout ratio is 16.60%.

Vistra declared that its board has initiated a stock buyback program on Thursday, November 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, Director Scott B. Helm sold 20,000 shares of Vistra stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total transaction of $2,795,400.00. Following the transaction, the director now directly owns 343,350 shares of the company's stock, valued at $47,990,029.50. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen J. Muscato sold 207,100 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the completion of the sale, the executive vice president now directly owns 318,287 shares of the company's stock, valued at $51,352,424.58. The trade was a 39.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 342,100 shares of company stock valued at $55,087,314. Company insiders own 1.42% of the company's stock.

Institutional Investors Weigh In On Vistra

Several large investors have recently modified their holdings of VST. Lionsbridge Wealth Management LLC purchased a new stake in shares of Vistra in the 4th quarter valued at approximately $277,000. Dakota Wealth Management purchased a new stake in shares of Vistra in the fourth quarter valued at $231,000. Empire Life Investments Inc. purchased a new stake in shares of Vistra in the third quarter valued at $23,028,000. Retirement Systems of Alabama boosted its position in shares of Vistra by 9.6% in the third quarter. Retirement Systems of Alabama now owns 78,965 shares of the company's stock worth $9,361,000 after buying an additional 6,920 shares during the period. Finally, Terra Nova Asset Management LLC purchased a new position in shares of Vistra during the third quarter valued at $842,000. 90.88% of the stock is owned by institutional investors.

About Vistra

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.