Kentucky Retirement Systems Purchases New Stake in Vistra Corp. (NYSE:VST)

Kentucky Retirement Systems acquired a new position in Vistra Corp. (NYSE:VST) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 23,934 shares of the company’s stock, valued at approximately $2,837,000.

Other institutional investors have also recently bought and sold shares of the company. Empire Life Investments Inc. purchased a new stake in shares of Vistra in the third quarter worth approximately $23,028,000. Terra Nova Asset Management LLC acquired a new position in Vistra in the 3rd quarter valued at approximately $842,000. Czech National Bank lifted its position in Vistra by 12.4% in the 3rd quarter. Czech National Bank now owns 69,987 shares of the company’s stock worth $8,296,000 after buying an additional 7,747 shares in the last quarter. Viking Fund Management LLC acquired a new stake in shares of Vistra during the 3rd quarter valued at $1,185,000. Finally, Atria Investments Inc purchased a new position in shares of Vistra during the 1st quarter valued at $1,675,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Vistra Stock Performance

VST opened at $142.15 on Monday. Vistra Corp. has a 12-month low of $34.25 and a 12-month high of $149.80. The firm has a market capitalization of $48.36 billion, a P/E ratio of 26.52 and a beta of 1.09. The stock’s 50 day moving average price is $119.52 and its two-hundred day moving average price is $97.52. The company has a quick ratio of 0.88, a current ratio of 1.11 and a debt-to-equity ratio of 4.68.

Vistra declared that its board has initiated a stock 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 reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a dividend of $0.221 per share. This is a boost from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Friday, December 20th. Vistra’s dividend payout ratio is presently 16.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VST shares. JPMorgan Chase & Co. started coverage on Vistra in a report on Thursday, October 17th. They set an “overweight” rating and a $178.00 price target for the company. UBS Group reduced their target price on shares of Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Guggenheim raised their price target on shares of Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. BNP Paribas began coverage on shares of Vistra in a report on Monday, October 14th. They issued an “outperform” rating and a $231.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $145.40.

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.