5. Vistra Corp. (NYSE:VST)
Number of Hedge Fund Holders as of Q4: 120
Lone Pine Capital’s Equity Stake: $738.01 Million
Vistra Corp. (NYSE:VST), a major integrated retail electricity and power generation company, reported strong financial and operational performance for 2024, supported by its diverse energy portfolio, including natural gas, nuclear, coal, solar, and battery storage facilities. For the quarter ending December 2024, the company achieved a net income of $490 million. It reported $4.56 billion in cash flow from operations for the year ended December 2024. Net income from ongoing operations stood at $2.93 billion, while ongoing operations adjusted EBITDA reached $5.66 billion, surpassing the midpoint of its initial guidance by $856 million, underscoring Vistra’s strong financial position and effective execution of its strategic initiatives.
Vistra Corp. (NYSE:VST) reaffirmed its 2025 financial guidance, projecting ongoing operations adjusted EBITDA between $5.5 billion and $6.1 billion, along with adjusted free cash flow before growth (FCFbG) ranging from $3.0 billion to $3.6 billion. The company has secured hedging for nearly all its anticipated generation volumes for 2025 and approximately 80% for 2026, reinforcing its confidence in meeting these targets. Additionally, it reiterated its 2026 adjusted EBITDA midpoint opportunity, expected to exceed $6.0 billion, reflecting its strategic approach to risk management and long-term financial stability. With strong cash flow generation, effective hedging strategies, and a positive earnings outlook, Vistra presents a compelling investment opportunity for those seeking exposure to the energy sector.
During the February 27, 2024, earnings call, Vistra Corp. (NYSE:VST) President and CEO Jim Burke highlighted the company’s record-breaking and transformational year, attributing its success to the dedication and expertise of its workforce. Over the past 12 months, the company completed a major acquisition, adding three nuclear sites, nearly one million retail customers in the PJM market, and 2,000 new employees, positioning itself as the second-largest competitive nuclear operator in the U.S. Additionally, Vistra expanded its renewable energy footprint by launching two solar-plus-storage facilities and securing two major power purchase agreements. Burke emphasized that these achievements reflect the strength of the company’s integrated business model; with a solid foundation and strategic alignment with industry electrification trends, Vistra Corp. (NYSE:VST) is well-positioned to execute its 2025 priorities and sustain long-term value for shareholders.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Vistra Corp. (NYSE:VST) in its Q3 2024 investor letter:
“Vistra Vistra Corp. (NYSE:VST) is an integrated retail electricity and power generation company. As an independent power producer (IPP), Vistra primarily generates revenue from selling its generated power at the prevailing market price. As a result of recent growth in future power demand, the company’s shares have soared on investors’ expectations for future power prices. The potential for Vistra to announce future power purchase agreements (PPAs) with large technology companies in order to satisfy the extraordinary power requirements of these companies’ artificial intelligence (AI) endeavors, in a similar manner to some of Vistra’s closest IPP peers, has also provided a tailwind for the stock.”