Magnetar Financial LLC Buys New Stake in Vistra Corp. (NYSE:VST)

Magnetar Financial LLC acquired a new stake in Vistra Corp. (NYSE:VST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,266 shares of the company’s stock, valued at approximately $2,000,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Redwood Wealth Management Group LLC acquired a new position in Vistra during the 2nd quarter worth approximately $26,000. Mather Group LLC. acquired a new stake in Vistra during the 1st quarter valued at $26,000. EdgeRock Capital LLC purchased a new stake in Vistra during the 2nd quarter worth $34,000. New Covenant Trust Company N.A. acquired a new position in Vistra in the 1st quarter worth $32,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Vistra in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Vistra Price Performance

Shares of NYSE VST opened at $111.64 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.88 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $38.79 billion, a price-to-earnings ratio of 68.49 and a beta of 1.08. Vistra Corp. has a twelve month low of $31.16 and a twelve month high of $114.55. The business has a 50 day simple moving average of $80.66 and a 200-day simple moving average of $81.20.

Vistra (NYSE:VST) last issued its earnings results on Thursday, August 8th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.69). Vistra had a return on equity of 21.05% and a net margin of 4.61%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company posted $1.03 earnings per share. As a group, equities research analysts expect that Vistra Corp. will post 4.52 earnings per share for the current year.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.2195 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, September 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is 53.37%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VST. BMO Capital Markets boosted their price target on Vistra from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley increased their target price on Vistra from $110.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Jefferies Financial Group began coverage on shares of Vistra in a research note on Friday, September 13th. They issued a “buy” rating and a $99.00 price target for the company. Six investment 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, Vistra presently has a consensus rating of “Buy” and a consensus price target of $104.50.

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.