Jennison Associates LLC Sells 82,539 Shares of Vistra Corp. (NYSE:VST)

Jennison Associates LLC decreased its position in Vistra Corp. (NYSE:VST) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,380,485 shares of the company’s stock after selling 82,539 shares during the quarter. Jennison Associates LLC’s holdings in Vistra were worth $282,183,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VST. Redwood Wealth Management Group LLC bought a new position in shares of Vistra in the second quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Vistra in the third quarter worth $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Vistra in the first quarter worth $32,000. CVA Family Office LLC grew its stake in shares of Vistra by 1,505.9% in the third quarter. CVA Family Office LLC now owns 273 shares of the company’s stock worth $32,000 after acquiring an additional 256 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of Vistra in the second quarter worth $34,000. Institutional investors own 90.88% of the company’s stock.

Vistra Stock Up 5.6 %

Shares of NYSE:VST opened at $154.85 on Wednesday. Vistra Corp. has a 52 week low of $34.25 and a 52 week high of $154.95. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. The company’s fifty day moving average is $122.52 and its 200-day moving average is $98.51. The company has a market capitalization of $52.68 billion, a PE ratio of 28.89 and a beta of 1.09.

Vistra announced that its Board of Directors has approved a stock buyback plan on Thursday, November 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a $0.221 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 20th. This is an increase from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is currently 16.42%.

Analyst Ratings Changes

VST has been the topic of several research analyst reports. Guggenheim raised their price objective on shares of Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of Vistra in a research note on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price objective on the stock. Royal Bank of Canada raised their price objective on shares of Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group lifted their price target on shares of Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, BMO Capital Markets lifted their price target 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, According to data from MarketBeat.com, Vistra presently has a consensus 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.