Vistra Corp shares surge on $1.9B acquisition of natural gas plants

Shares of utility company Vistra Corp (NYSE:VST) jumped 3.6% in premarket trading Friday, reaching $157.51 following news of a major acquisition.

Irving, Texas-based Vistra announced late Thursday its plan to purchase seven natural gas generation facilities from Lotus Infrastructure Partners for $1.9 billion.

The move is aimed at meeting growing power demand across key U.S. markets.

The acquired gas plants are spread across the PJM Interconnection market, New England, New York, and California.

PJM is a regional transmission organization responsible for coordinating wholesale electricity movement in parts of the Eastern United States, covering 13 states from Illinois to New Jersey.

Vistra expects the transaction to close in late 2025 or early 2026, pending approval from regulatory bodies including the Federal Energy Regulatory Commission (FERC) and the U.S. Department of Justice (DOJ).

Through Thursday’s close, Vistra shares had gained 10% year-to-date, outperforming the S&P 500 Utilities index, which recorded a nearly 7% gain in the same period.