Welcome to our dedicated page for Vistra news (Ticker: VST), a resource for investors and traders seeking the latest updates and insights on Vistra stock.
Vistra Corp. (NYSE: VST) is a leading integrated retail electricity and power generation company based in Irving, Texas. With operations spanning 20 states and the District of Columbia, Vistra is committed to providing reliable and affordable energy solutions to approximately 5 million customers, including nearly a third of all Texas electricity consumers.
Vistra's diverse generation portfolio is robust, including nearly 41 gigawatts of nuclear, coal, natural gas, and solar power, supported by one of the largest utility-scale battery projects in the world. The company's power generation assets in Texas alone comprise about 18,000 MW, with a mix of nuclear, coal, and natural gas facilities, as well as significant renewable energy purchases from wind and solar sources.
Recent significant developments include the acquisition of Energy Harbor, which was finalized in March 2024 after receiving the last regulatory approval from the Federal Energy Regulatory Commission (FERC). This acquisition expanded Vistra's zero-carbon generation portfolio by adding over 4,000 MW of nuclear power and approximately 1 million additional retail customers.
Financially, Vistra demonstrates strong performance and stability, with positive cash flows and strategic growth initiatives. The company reported a net income of $1,492 million for the full year 2023, significantly improving over the previous year. Vistra's hedging strategies and comprehensive approach to risk management underscore its ability to navigate market uncertainties and deliver consistent financial results.
Vistra is also at the forefront of energy transformation, with ongoing investments in solar and battery storage projects. In 2024, Vistra announced plans to add up to 2,000 MW of natural gas power capacity in Texas, aimed at bolstering grid reliability amidst increasing power demand driven by economic growth and electrification in various sectors.
The company’s retail arm, TXU Energy, is the #1 electricity choice in Texas, providing innovative plans like TXU Energy Free EV Miles℠, supporting the transition to electric vehicles by offering free home EV charging backed by 100% renewable sources.
Vistra's commitment to operational excellence, customer-centric solutions, and sustainable energy practices makes it a pivotal player in the US energy sector. With a vision for future growth and a strong foundation built on over a century of expertise, Vistra continues to drive forward the energy landscape.
Vistra has launched a new electricity plan under its TXU Energy brand, designed to support electric vehicle (EV) owners. The TXU Energy Free EV Miles℠ plan offers free home charging every evening from 7 p.m. to 1 p.m. the next day, totaling 125 hours weekly. Customers will see their usage reflected on monthly statements. The initiative is aimed at simplifying EV charging and promoting renewable energy sources, supporting the transition to cleaner vehicles. Vistra currently serves nearly 4.3 million customers across 20 states.
Vistra (NYSE: VST) has declared a quarterly dividend of $0.193 per share, amounting to an estimated $75 million this quarter. The cumulative dividend for 2022 is approximately $300 million, reflecting a 29% increase from the prior year. The dividend is payable on Dec. 29, 2022, to stockholders of record by Dec. 20, 2022. Additionally, a semi-annual dividend of $35.00 per share on the Series B Preferred Stock will be issued on Dec. 15, 2022, to preferred stockholders on record by Dec. 1, 2022.
Vistra (NYSE: VST) is scheduled to report its third quarter 2022 financial results on November 4, 2022, with a live conference call starting at 9 a.m. ET. Interested parties can access the webcast through Vistra's investor relations website. The company, based in Irving, Texas, serves around 4 million customers across 20 states, primarily in retail electricity and power generation. Vistra is a leader in the competitive electricity market and operates a significant renewable energy portfolio, including the largest battery energy storage system in the world located in Moss Landing, California.
Vistra (NYSE: VST) announced plans to renew the licenses for its Comanche Peak Nuclear Power Plant, extending operations through 2053. This renewal will ensure the continued generation of 2,400 MW of zero-carbon electricity, enough to power approximately 1.2 million Texas homes. Comanche Peak has produced over 582 million megawatt-hours of emission-free electricity since 1990. The company is committed to a 60% reduction in greenhouse gas emissions by 2030, having already achieved over 72% of this target, underscoring its role in the energy transition.
Nuvve (Nasdaq: NVVE) has partnered with Vistra (NYSE: VST) to assist U.S. school districts in electrifying their bus fleets. The collaboration aids districts in accessing over $4.5M in grant funding to replace older diesel buses with electric ones. This initiative not only reduces greenhouse gas emissions but also leverages Nuvve's vehicle-to-grid (V2G) technology for energy management. This innovative approach allows schools to potentially earn revenue by returning energy to the grid, while benefiting from reduced maintenance costs and enhanced fleet management.
Vistra reported a second-quarter 2022 net loss of $(1,357) million, driven by non-cash, unrealized hedging losses of $(1,987) million due to increased forward power prices. Despite this, Ongoing Operations Adjusted EBITDA reached $761 million, and the company is on track to meet its full-year guidance for Adjusted EBITDA and Free Cash Flow. Vistra executed $1.6 billion of its $2 billion share repurchase program and announced an additional $1.25 billion in buybacks. The company also increased its dividend by 23% and achieved significant residential customer growth for TXU Energy.
Vistra has declared a third quarter dividend of $0.184 per share, totaling approximately $75 million for this quarter. The cumulative dividend for 2022 reaches $225 million, marking a 23% rise from Q3 2021. The common dividend is payable on Sept. 30, 2022, with an ex-dividend date of Sept. 20, 2022. Additionally, a semi-annual dividend of $40.00 per share for the Series A Preferred Stock will be paid on Oct. 17, 2022. This reflects strong shareholder returns amid Vistra’s robust operational strategy.
Vistra has appointed Kris Moldovan as its new chief financial officer effective August 1, 2022. He succeeds Jim Burke, who will become the company's chief executive officer on the same date. Moldovan, a company veteran since 2006, has played a critical role in finance and capital allocation. His appointment reflects a strategy to enhance leadership as the company approaches its clean energy transformation. Moldovan holds degrees in engineering, law, and finance, showcasing a strong background to lead the financial operations of Vistra.
Vistra (NYSE: VST) plans to release its second quarter 2022 financial results on August 5, 2022, with a live conference call at 8 a.m. ET. Investors can listen to the webcast via the company's website or by phone after registering here. A replay will be available on the site for one year. Vistra is a major provider of electricity and natural gas, serving 4.3 million customers across 20 states and the District of Columbia.
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