Rubric Capital Management LP Raises Stake in Vistra Corp. (NYSE:VST)

Rubric Capital Management LP boosted its holdings in Vistra Corp. (NYSE:VST) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,327,106 shares of the company’s stock after buying an additional 113,108 shares during the period. Vistra makes up about 3.0% of Rubric Capital Management LP’s investment portfolio, making the stock its 9th largest position. Rubric Capital Management LP owned about 0.38% of Vistra worth $114,105,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC acquired a new stake in Vistra in the 2nd quarter valued at $26,000. Mather Group LLC. acquired a new stake in Vistra in the 1st quarter valued at $26,000. EdgeRock Capital LLC acquired a new stake in Vistra in the 2nd quarter valued at $34,000. New Covenant Trust Company N.A. acquired a new stake in Vistra in the 1st quarter valued at $32,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Vistra in the 2nd quarter valued at $47,000. 90.88% of the stock is owned by institutional investors.

Vistra Trading Up 16.2 %

NYSE VST opened at $107.77 on Friday. The firm has a market cap of $37.03 billion, a P/E ratio of 66.12 and a beta of 1.08. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.98 and a quick ratio of 0.88. The stock’s 50-day moving average is $80.15 and its 200-day moving average is $80.56. Vistra Corp. has a one year low of $31.16 and a one year high of $108.26.

Vistra (NYSE:VST) last released its quarterly 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). The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.04 billion. Vistra had a return on equity of 21.05% and a net margin of 4.61%. During the same period in the prior year, the business earned $1.03 EPS. Sell-side analysts anticipate that Vistra Corp. will post 4.52 earnings per share for the current fiscal year.

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a $0.2195 dividend. 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. The ex-dividend date of this dividend is Friday, September 20th. Vistra’s dividend payout ratio (DPR) is currently 53.37%.

Analyst Upgrades and Downgrades

VST has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on Vistra from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley boosted 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. Finally, Jefferies Financial Group initiated coverage on Vistra in a research note on Friday, September 13th. They issued a “buy” rating and a $99.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Vistra has an average rating of “Buy” and a consensus price target of $91.71.

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.