Vistra Corp. (VST)

In the past six months, Vistra announced the pricing of a private offering of $2.25 billion in senior secured notes. The company's stock surged following the announcement of 20-year power purchase agreements with Meta. Vistra's stock rose after the company announced definitive agreements to acquire Cogentrix Energy for approximately $4 billion. The ex-dividend date for a quarterly dividend payment occurred. Vistra released its quarterly earnings, reporting $1.75 EPS, which missed the consensus estimate of $1.78. JPMorgan initiated coverage on Vistra Corp. with an "Overweight" rating and a price target of $178.

Demand for Vistra Corp.'s electricity and natural gas products and services is seasonal, influenced by weather conditions, with higher demand and prices during the summer and winter. These seasonal fluctuations can lead to variations in the company's operating results, and Vistra has implemented measures to mitigate weather-driven volatility.

Vistra Corp. is an integrated retail electricity and power generation company based in Irving, Texas, operating in the Electric Utilities & Independent Power Producers industry. It is one of the largest competitive power generators in the U.S., with approximately 44,000 MW of generation capacity, including natural gas, nuclear, coal, solar, and battery energy storage. Vistra sells electricity and natural gas to approximately 5 million customers through retail brands like TXU Energy and Dynegy and engages in wholesale energy sales, commodity risk management, fuel production, and fuel logistics management.

Vistra Corp. has a significant geographic footprint across the United States, with retail operations in 20 states and the District of Columbia. Its competitive wholesale and generation operations are in 12 states, including California, Texas and Pennsylvania. The company's generation portfolio spans from California to Maine, operating in major competitive wholesale markets like PJM, ISO New England, and ERCOT.

Vistra Corp.'s brand reputation has been impacted by its environmental record, as it was ranked as the highest CO2 emitter in the U.S. in 2020 and the No. 1 polluter in the United States in the 2024 Greenhouse 100 Polluters Index Report. Vistra has committed to a 60% reduction of Scope 1 and 2 greenhouse gas emissions by 2030 and aims for net-zero carbon emissions by 2050, making progress through the retirement of fossil-fueled assets and investments in renewable power generation.

Vistra Corp. is predominantly owned by institutional investors, who collectively hold approximately 81% to 90% of the company's stock, including Vanguard Group Inc. and BlackRock, Inc. Significant individual and insider shareholders include Brookfield Asset Management Inc., owning approximately 9.49% of the company's shares.