Forest Avenue Capital Management LP Increases Position in Vistra Corp. (NYSE:VST)

Forest Avenue Capital Management LP raised its position in shares of Vistra Corp. (NYSE:VST) by 21.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 535,074 shares of the company’s stock after purchasing an additional 96,074 shares during the quarter. Vistra comprises 6.4% of Forest Avenue Capital Management LP’s portfolio, making the stock its 4th largest holding. Forest Avenue Capital Management LP owned about 0.15% of Vistra worth $46,006,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. bought a new stake in Vistra in the first quarter worth about $26,000. Redwood Wealth Management Group LLC acquired a new stake in Vistra during the second quarter valued at approximately $26,000. New Covenant Trust Company N.A. bought a new stake in Vistra during the first quarter worth approximately $32,000. EdgeRock Capital LLC acquired a new position in Vistra in the second quarter worth approximately $34,000. Finally, Riverview Trust Co acquired a new position in Vistra in the first quarter worth approximately $39,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Vistra from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. BMO Capital Markets lifted their price target on Vistra from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group began coverage on shares of Vistra in a research note on Friday, September 13th. They set a “buy” rating and a $99.00 price objective for the company. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vistra currently has a consensus rating of “Buy” and an average target price of $91.71.

Vistra Trading Up 16.2 %

Shares of NYSE:VST opened at $107.77 on Friday. The firm has a fifty day moving average of $80.15 and a two-hundred day moving average of $80.56. The company has a quick ratio of 0.88, a current ratio of 0.98 and a debt-to-equity ratio of 2.89. Vistra Corp. has a 12-month low of $31.16 and a 12-month high of $108.26. The firm has a market capitalization of $37.03 billion, a P/E ratio of 66.12 and a beta of 1.08.

Vistra (NYSE:VST) last issued its earnings results on Thursday, August 8th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.69). Vistra had a net margin of 4.61% and a return on equity of 21.05%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the firm earned $1.03 EPS. On average, equities analysts expect that Vistra Corp. will post 4.52 EPS for the current fiscal year.

Vistra Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a $0.2195 dividend. The ex-dividend date is Friday, September 20th. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. This is an increase from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio is currently 53.37%.

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.