Empowered Funds LLC Increases Position in Vistra Corp. (NYSE:VST)

Empowered Funds LLC grew its position in shares of Vistra Corp. (NYSE:VST) by 174.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,165 shares of the company’s stock after purchasing an additional 90,445 shares during the period. Empowered Funds LLC’s holdings in Vistra were worth $16,852,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on VST shares. Jefferies Financial Group lifted their price objective on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. began coverage on shares of Vistra in a research note on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. UBS Group reduced their price objective on shares of Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, BMO Capital Markets boosted their target price on shares of Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vistra currently has a consensus rating of “Buy” and an average price target of $145.40.

Vistra Price Performance

Shares of NYSE:VST opened at $138.59 on Friday. The company’s fifty day moving average price is $118.14 and its 200 day moving average price is $96.78. The firm has a market capitalization of $47.15 billion, a P/E ratio of 25.84 and a beta of 1.09. Vistra Corp. has a 12 month low of $34.25 and a 12 month high of $149.80. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.88.

Vistra Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a dividend of $0.221 per share. This is a positive change from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.88 annualized dividend and a yield of 0.64%. Vistra’s payout ratio is 16.42%.

Vistra declared that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.