Cullen Frost Bankers Increases Stake in Vistra Corp by 10.2%

Cullen Frost Bankers Inc. has increased its holdings in Vistra Corp. (NYSE: VST) by 10.2% during the second quarter of 2023, as reported by HoldingsChannel. The institutional investor now owns 904 shares of Vistra, having acquired an additional 84 shares in the latest quarter. At the close of this reporting period, Cullen Frost Bankers’ stake in the company was valued at approximately $175,000.

Several other institutional investors have also adjusted their positions in Vistra. Lionsbridge Wealth Management LLC entered a new investment in the company, acquiring shares worth about $415,000 in the same quarter. Greenup Street Wealth Management LLC increased its holdings by 0.7%, resulting in ownership of 13,972 shares valued at $2.7 million after purchasing 103 additional shares. Jackson Thornton Wealth Management LLC and Avidian Wealth Enterprises LLC also established new positions, valued at approximately $230,000 and $303,000, respectively. Meanwhile, WESPAC Advisors SoCal LLC saw a significant increase of 93.2% in its stake, now owning 8,740 shares worth $1.694 million. As of now, institutional investors hold about 90.88% of Vistra’s stock.

Vistra’s Financial Performance and Dividends

Vistra’s stock price opened at $201.62 on Friday, reflecting a 5.4% increase. The company’s market capitalization stands at $68.31 billion, with a P/E ratio of 32.16, and a price-to-earnings-growth ratio of 2.86. Over the past year, Vistra’s stock has fluctuated between a low of $90.51 and a high of $219.82. The company’s financial metrics include a debt-to-equity ratio of 6.58, a quick ratio of 0.80, and a current ratio of 0.90.

In addition to its stock performance, Vistra announced a quarterly dividend of $0.226 per share, paid on September 30, 2023. This marked an increase from the prior dividend of $0.23. Stockholders of record as of September 19, 2023 received this payment, representing an annualized dividend of $0.90 and a yield of 0.4%. The company’s payout ratio currently sits at 14.35%.

Insider Activity and Analyst Ratings

In related news, Vistra’s CEO, James A. Burke, sold 19,612 shares of the company on October 22, 2023, at an average price of $188.30, totaling approximately $3.69 million. Following this transaction, Burke retains 292,642 shares valued at around $55.10 million. This sale represents a 6.28% reduction in his ownership. The transaction was disclosed in a document filed with the Securities and Exchange Commission.

Market analysts have provided various assessments regarding Vistra’s stock. Morgan Stanley raised its price target from $207.00 to $223.00, maintaining an “overweight” rating. Jefferies Financial Group reassessed its rating to “hold” while adjusting its price target down to $230.00. Cowen and Melius have initiated coverage, both assigning a “buy” rating. BMO Capital Markets raised its price target from $229.00 to $236.00, reflecting an “outperform” rating.

Currently, four analysts have rated Vistra as a Strong Buy, while eleven have issued Buy ratings and two have opted for Hold. According to data from MarketBeat, the stock holds an average rating of “Buy” with a consensus price target of $229.31.

Vistra Corp. operates as an integrated retail electricity and power generation company through its subsidiaries, offering services across multiple segments including Retail, Texas, East, West, Sunset, and Asset Closure. The corporation provides electricity and natural gas to residential, commercial, and industrial customers throughout the United States and the District of Columbia.