Vistra Corp Stock Price, News & Analysis

TXU Energy and Ford have partnered to offer Ford electric vehicle (EV) customers in Texas significant cost-savings through the TXU Energy Free EV Miles program. This program provides credits on TXU Energy bills for electricity used during specified off-peak hours, potentially covering the entire cost of at-home charging. The initiative aims to support grid reliability by encouraging energy consumption during off-peak hours and educating Texans on the benefits of EVs.

Key features include:

• Free charging hours between 7 p.m. and 1 p.m. the next day, all year long
• Flexibility with up to 18 hours a day for free charging
• $100 welcome bonus from Ford and $250 bonus from TXU Energy for staying enrolled for a year
• Applicable to Ford F-150 Lightning, Mustang Mach-E, and Escape PHEV customers

Vistra Corp. (NYSE: VST) reported strong Q2 2024 results with GAAP Net Income of $467 million and Ongoing Operations Adjusted EBITDA of $1,414 million. The company reaffirmed its 2024 guidance midpoint of $4,800 million for Ongoing Operations Adjusted EBITDA. Vistra completed two long-term renewable power purchase agreements with Microsoft and Amazon, and announced plans to add up to 2,000 MW of natural gas-fueled capacity in ERCOT. The Nuclear Regulatory Commission approved a 20-year license extension for Comanche Peak. Vistra increased its 2025 Ongoing Operations Adjusted EBITDA midpoint opportunity to $5,200-$5,700 million. The company has hedged 94% of expected generation volumes for the remainder of 2024 and continues its share repurchase program, having executed ~$4.25 billion in repurchases since November 2021.

Vistra (NYSE: VST) has announced a quarterly dividend increase for its common stock and a semi-annual dividend for its Series A preferred stock. The board of directors declared a quarterly dividend of $0.2195 per share on common stock, representing a 7% increase from the third quarter of 2023. This dividend, totaling an estimated $75 million, will be payable on Sept. 30, 2024, to stockholders of record as of Sept. 20, 2024. Additionally, a semi-annual dividend of $40.00 per share was declared on the company's 8.0% Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, payable on Oct. 15, 2024, to preferred stockholders of record as of Oct. 1, 2024.

Vistra (NYSE: VST) has released its 2023 Sustainability Report, showcasing significant progress in its energy transition efforts. Key highlights include:

1. Environmental Stewardship: 9% reduction in Scope 1 GHG emissions year-over-year, with a clear path to 2030 targets.

2. Strategy & Innovation: Addition of 350 MW battery storage at Moss Landing and acquisition of 4,000 MW zero-carbon nuclear fleet.

3. Inclusion & Human Capital: Expanded to 15 Employee Resource Groups and implemented inclusive leadership training.

4. Safety: 35% decrease in total recordable incident rate and over 58,000 safety training courses completed.

5. Community Support: $5.3 million in energy bill assistance and $2.4 million invested in nonprofit organizations.

6. Responsible Business: 30% increase in spending with Diverse Business Enterprises and recognition for disability inclusion.

Vistra (NYSE: VST) has received approval from the Nuclear Regulatory Commission (NRC) to extend the operation of its Comanche Peak Nuclear Power Plant through 2053, an additional 20 years beyond its original licenses. This extension ensures continued reliable, baseload generation of zero-carbon electricity. The plant's two units can now operate until 2050 and 2053, respectively.

Comanche Peak is the third of Vistra's four nuclear plants to receive a license extension. The company's nuclear fleet has a capacity to generate over 6,500 MW of emission-free energy, powering about 3.25 million homes. The extension also secures continued economic benefits for the local area, with the plant employing over 600 employees and 200 permanent contractors, and paying more than $30 million annually in state and local taxes.

Homefield Energy, a Vistra subsidiary, has secured a multi-year contract with the U.S. General Services Administration (GSA) to provide carbon pollution-free electricity to federal facilities in Illinois. The agreement ensures that these facilities will be powered by nearly 80% wind energy, aligning with the federal government's goal to procure 100% of its net annual electricity from carbon pollution-free sources by 2030.

Homefield will supply emission-free electricity through renewable energy Certificates (RECs) from power generation facilities in the 15-state MISO region, with a commercial online date of Oct. 1, 2021, or later. This contract positions GSA as a national leader in sustainability and demonstrates Homefield Energy's commitment to supporting customers in achieving ambitious environmental goals.

Vistra (NYSE: VST) has announced that it will release its second quarter 2024 financial and operating results on Thursday, Aug. 8, 2024. The company will host a live conference call and webcast at 10 a.m. ET (9 a.m. CT) to discuss the results. Investors and analysts can access the webcast through Vistra's website under the 'Investor Relations' section and 'Events & Presentations' subsection. For those who prefer to listen by phone, registration is required prior to the call to receive dial-in information. A replay of the webcast will be available on Vistra's website for one year following the event, providing extended access to the financial information and discussion.

Vistra (NYSE: VST), a Texas-based energy company, has pledged $1 million to aid customers and communities impacted by Hurricane Beryl. The donation will be split between charity and social services partners for supplies and food assistance, and Vistra's Energy Aid program for electric bill support. $400,000 is specifically allocated for bill-payment assistance in affected areas.

Vistra's retail brands, including TXU Energy and Ambit Energy, are offering payment flexibility to affected customers through August 30, including waived late fees and extended payment due dates. The company's Energy Aid program has provided over $130 million in bill-payment assistance over 40 years, helping around 20,000 families annually.

Vistra (NYSE: VST) has announced plans to add up to 2,000 MW of natural-gas-fueled power capacity in Texas. This includes constructing up to 860 MW of new simple-cycle peaker plants, repowering the 600 MW Coleto Creek coal plant into a gas plant, and upgrading existing gas plants to add more than 500 MW of summer capacity and 100 MW of winter capacity. The initiative aims to support Texas' growing power needs driven by economic and population growth. Vistra’s investment is supported by recent Texas legislative reforms that incentivize dispatchable generation. The company is filing a Notice of Intent to apply for support from the Texas Energy Fund on May 31. This plan ensures reliable, affordable, and lower-emission power for Texans while leveraging existing infrastructure for quicker project completion.