State of Michigan Retirement System Grows Stock Position in Vistra Corp. (NYSE:VST)

State of Michigan Retirement System increased its position in shares of Vistra Corp. (NYSE:VST) by 2.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,500 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. State of Michigan Retirement System’s holdings in Vistra were worth $5,746,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VST. 3Chopt Investment Partners LLC boosted its position in shares of Vistra by 142.2% during the 4th quarter. 3Chopt Investment Partners LLC now owns 54,969 shares of the company’s stock valued at $2,117,000 after acquiring an additional 32,276 shares during the last quarter. Comerica Bank boosted its position in shares of Vistra by 90.4% during the 3rd quarter. Comerica Bank now owns 327,520 shares of the company’s stock worth $10,867,000 after purchasing an additional 155,533 shares during the period. Ellsworth Advisors LLC acquired a new stake in Vistra in the 4th quarter valued at approximately $773,000. Janney Montgomery Scott LLC lifted its stake in Vistra by 4.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 145,812 shares of the company’s stock worth $5,617,000 after purchasing an additional 5,619 shares in the last quarter. Finally, Burns Matteson Capital Management LLC acquired a new stake in shares of Vistra in the fourth quarter valued at $831,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lisa Crutchfield purchased 335 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $89.46 per share, for a total transaction of $29,969.10. Following the completion of the purchase, the director now directly owns 32,186 shares of the company’s stock, valued at $2,879,359.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.42% of the stock is currently owned by insiders.

Vistra Stock Up 0.4 %

Vistra stock opened at $87.72 on Wednesday. The stock has a 50-day simple moving average of $88.96 and a 200-day simple moving average of $64.99. The company has a market capitalization of $30.48 billion, a P/E ratio of 53.82 and a beta of 1.05. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.96 and a current ratio of 1.08. Vistra Corp. has a fifty-two week low of $25.88 and a fifty-two week high of $107.24.

Vistra (NYSE:VST) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.39). The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Vistra had a net margin of 5.66% and a return on equity of 24.72%. Equities research analysts expect that Vistra Corp. will post 3.95 earnings per share for the current year.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 19th were paid a dividend of $0.218 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.87 dividend on an annualized basis and a yield of 0.99%. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio is currently 53.37%.

Analysts Set New Price Targets

VST has been the topic of several research reports. Guggenheim raised shares of Vistra to a “strong-buy” rating in a research report on Tuesday, May 7th. Janney Montgomery Scott started coverage on Vistra in a report on Thursday, April 18th. They issued a “buy” rating and a $82.00 target price for the company. Evercore ISI upped their price target on Vistra from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. BMO Capital Markets lifted their price objective on Vistra from $79.00 to $109.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, Morgan Stanley upped their target price on shares of Vistra from $86.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $87.83.

Vistra Profile

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.