SteelPeak Wealth LLC Boosts Stake in Vistra Corp. $VST

SteelPeak Wealth LLC lifted its position in shares of Vistra Corp. (NYSE:VST) by 61.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,450 shares of the company’s stock after acquiring an additional 9,350 shares during the quarter. SteelPeak Wealth LLC’s holdings in Vistra were worth $4,739,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VST. Nuveen LLC purchased a new stake in shares of Vistra during the 1st quarter worth about $209,149,000. Assenagon Asset Management S.A. grew its position in shares of Vistra by 2,341.6% in the second quarter. Assenagon Asset Management S.A. now owns 865,562 shares of the company’s stock valued at $167,755,000 after purchasing an additional 830,111 shares during the period. Fred Alger Management LLC grew its position in shares of Vistra by 102.5% in the first quarter. Fred Alger Management LLC now owns 973,339 shares of the company’s stock valued at $114,309,000 after purchasing an additional 492,765 shares during the period. 140 Summer Partners LP acquired a new stake in shares of Vistra in the first quarter valued at about $56,876,000. Finally, Hsbc Holdings PLC grew its position in shares of Vistra by 52.2% in the first quarter. Hsbc Holdings PLC now owns 943,057 shares of the company’s stock valued at $109,761,000 after purchasing an additional 323,264 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Stock Performance

NYSE:VST opened at $200.37 on Tuesday. The company’s 50-day moving average price is $200.65 and its 200-day moving average price is $171.10. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 6.58. The company has a market cap of $67.89 billion, a P/E ratio of 31.96, a P/E/G ratio of 3.02 and a beta of 1.33. Vistra Corp. has a twelve month low of $90.51 and a twelve month high of $219.82.

Vistra (NYSE:VST) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.62). The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Vistra had a return on equity of 108.41% and a net margin of 12.90%. On average, sell-side analysts forecast that Vistra Corp. will post 7 earnings per share for the current fiscal year.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were paid a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 0.5%. This is a boost from Vistra’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, September 19th. Vistra’s payout ratio is presently 14.35%.

Insider Buying and Selling

In other Vistra news, CEO James A. Burke sold 43,074 shares of Vistra stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $208.75, for a total transaction of $8,991,697.50. Following the transaction, the chief executive officer directly owned 217,025 shares of the company’s stock, valued at $45,303,968.75. The trade was a 16.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 379,645 shares of company stock worth $78,263,666 over the last quarter. 1.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VST. BMO Capital Markets lifted their target price on shares of Vistra from $229.00 to $236.00 and gave the company an “outperform” rating in a research report on Friday. The Goldman Sachs Group lifted their target price on shares of Vistra from $179.00 to $203.00 and gave the company a “neutral” rating in a research report on Wednesday, August 13th. Morgan Stanley lifted their target price on shares of Vistra from $207.00 to $223.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. lifted their target price on shares of Vistra from $227.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Finally, Melius began coverage on shares of Vistra in a research note on Wednesday, August 20th. They issued a “buy” rating and a $295.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $224.21.

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.