The share price of Sydney-based energy company, Origin has yesterday gone up by 2.602% to $8.280 at the back of stronger oil prices. The investors are stepping up to buy the stock of vertically integrated energy company after the crude oil prices surged in overnight trade as Hurricane energy threatens to shut down US supply.
Brokers have also been seen on the side of the company. They believe that Origin has been oversold following the raising concerns on tougher regulation by federal government. Thus, they have advised investors to accumulate more stock which also seems to be in line with current oil prices direction. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]
In the fiscal year 2018, the company has shown strong performance over Energy market and integrated gas business which helped them to achieve $438 million improvement in underlying profit to $838 million. Noting significant improvement in power generation portfolio seeded from higher wholesale price, and higher natural gas sales volumes, the group reported 36% growth in underlying earnings (EBITDA) to $2.95 billion. But since hedge cost has been standing outside the underlying earnings, the investors’ confidence in company’s financial has gone down a bit.
Currently, as at 13 September 2018 (5:22 PM AEST), Origin Energy Limited’s (ASX: ORG) share price fell 0.48% to $8.24. The stock is currently trading at the PE of 66.770 x with market capitalization of $14.57 billion. There has been the performance change of 6.56% over the past one year.
The Income available from dividends remains attractive for many investors.
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