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 (NYSE: VST) announced the appointment of Julie Lagacy as an independent director, expanding its board to 11 members. Lagacy's extensive experience in strategy, sustainability, and cybersecurity is expected to enhance board capabilities. She will serve on the Sustainability & Risk Committee and the Social Responsibility & Compensation Committee. Chairman Scott Helm emphasized the need for diverse skills to guide the company's strategy, particularly in relation to its net zero commitment. Lagacy has a significant track record, including roles at Caterpillar, and brings expertise in ESG and capital allocation.
Vistra (NYSE: VST) has announced the expansion of its residential demand response program in Texas. This initiative allows customers with compatible smart thermostats to reduce electricity consumption during peak demand, enhancing grid reliability. Through the TXU Energy Connected Conservation program, these adjustments will help balance supply and demand across the state, which is the highest electricity consumer in the U.S. The program offers flexibility, allowing customers to opt out of conservation events. Vistra aims to lead in energy transition by integrating smart devices for better energy management.
On December 15, 2022, TXU Energy announced a $150,000 donation to combat hunger and support community initiatives across Texas. This includes $100,000 for food banks and $50,000 for social service organizations. The contributions will specifically aid 12 food banks and organizations, providing essential resources like 60,000 meals through partnerships with local food banks in Houston, Dallas, and Fort Worth. TXU Energy aims to alleviate the increased demand for food aid amid growing inflation, emphasizing the importance of community support during the holiday season.
Vistra (NYSE: VST) reported strong third-quarter 2022 results, with net income of $678 million and ongoing operations adjusted EBITDA of $1,038 million. The company has narrowed its 2022 EBITDA guidance to $2,960 million to $3,160 million while initiating 2023 guidance at $3,400 million to $4,000 million. Notably, Vistra has repurchased approximately $2.05 billion of shares, representing 18% of shares outstanding. The company is also transitioning to lower carbon resources with its Vistra Zero portfolio, emphasizing sustainable energy solutions.
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.
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