Oppenheimer Asset Management Inc. Trims Stock Holdings in Vistra Corp. (NYSE:VST)

Oppenheimer Asset Management Inc. lessened its stake in Vistra Corp. (NYSE:VST) by 26.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,186 shares of the company’s stock after selling 775 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Vistra were worth $259,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC bought a new position in shares of Vistra during the second quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Vistra during the third quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in shares of Vistra in the 1st quarter worth about $32,000. CVA Family Office LLC grew its position in shares of Vistra by 1,505.9% during the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock valued at $32,000 after buying an additional 256 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in Vistra in the second quarter worth about $34,000. 90.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VST shares. UBS Group reduced their price objective on Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. initiated coverage on Vistra in a research report on Thursday, October 17th. They set an “overweight” rating and a $178.00 price target for the company. BMO Capital Markets raised their price target on Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Royal Bank of Canada increased their target price on shares of Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, BNP Paribas started coverage on shares of Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $145.40.

Vistra Stock Performance

NYSE:VST opened at $154.61 on Thursday. The company has a 50-day moving average of $124.02 and a 200-day moving average of $98.90. The firm has a market cap of $52.60 billion, a price-to-earnings ratio of 28.85 and a beta of 1.09. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. Vistra Corp. has a twelve month low of $34.25 and a twelve month high of $157.72.

Vistra announced that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a dividend of $0.221 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.57%. This is a boost from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. Vistra’s dividend payout ratio (DPR) is presently 16.42%.

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.