High-Yielding Utility Stock Soars on $5 Billion Share-Repurchase Plan

Shares of Vistra Corp. (NYSE: VST) jumped on Wednesday, rallying 10.4% as of 2:50 p.m. EDT. Utility stocks rarely make such big moves as they're typically slow-moving, steady businesses, so there's clearly something big brewing in Vistra.

Two developments lit a fire under Vistra shares.

First, the company announced a share-repurchase program worth $2 billion on Oct. 12 and expects to start buying back shares in November through 2022.

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Source Fool.com