Renowned investor Peter Thiel sold his entire stake in electricity producer Vistra Energy (VST) in the third quarter, with Vistra’s nuclear plants currently producing about 6.6 gigawatts of power. Vistra reported operating revenues of $4.97 billion in the third quarter, down from $6.3 billion a year earlier, but adjusted EBITDA increased to $1.58 billion. The company is building new natural gas power units and has completed the acquisition of modern natural gas generation facilities. VST stock trades at a trailing P/E ratio of 40 and a forward P/E ratio of 21.

Strong positive catalysts for nuclear-power producers include the demand for carbon-free electricity from data centers and Washington Republicans’ support for the sector. Tax credits and bonuses have been expanded for nuclear facilities, and Energy Secretary Chris Wright stated that most funds available for energy producers will go to nuclear plant builders. Despite the demand for electricity, Vistra Energy’s stock may be overvalued with its high P/E ratios and recent downgrades from investment banks. VST CEO James Burke also sold over $4 million of VST stock.

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