Origin Energy Profit Powers Down On Outages, Price Caps
Origin Energy’s interim profit took a number of blows from outages across its businesses in the six months to December - some own goals, others beyond its control.
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News
Origin Energy Powers Down Dividend Policy Despite Earnings Surge
Origin Energy’s underlying profit might have surged more than 40% in the year to June, but the coming year will be tougher, so a new dividend policy will be adopted to handle any slowdown.
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Beach, Origin Shares Slide Despite Strong Results
Solid quarterly updates from the two remaining energy groups yesterday for the three months to March in the shape of the Kerry Stokes-dominated Beach Energy and LNG exporter and power operator, Origin.
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Record LNG Result Saves Origin As Retail Slips
Origin Energy produced the second encouraging December quarter statement from an energy group yesterday after beach upgraded its output guidance by 10%.
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Resurgent Origin Energy Leaves Shareholders Waiting
Origin Energy is well and truly in the black and is looking to restart dividends to patient shareholders in 2019.
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Analyst Views
ORG – Credit Suisse rates the stock as Outperform
Commodity revenue was 5% ahead of Credit Suisse forecasts in the first quarter while LNG revenue was 12% ahead. The broker adjusts realised price assumptions for the next year relative to Brent oil pricing.
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ORG – Citi rates the stock as Neutral
APLNG cash flows were slightly ahead of Citi's expectations. The break-even operating oil price is now calculated at US$21/bbl.
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ORG – UBS rates the stock as Buy
APLNG continues to increase cash distributions and the company has now guided to around $850m in FY19, ahead of UBS estimates. APLNG achieved the highest realised LNG price this quarter relative to other Australian E&P's.
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ORG – Macquarie rates the stock as Outperform
Macquarie points out earnings expectations in energy markets now reflect the falling LREC price and the inability for Origin Energy to offset this from other sources.
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ORG – Morgans rates the stock as Add
Morgans observes the stock has declined -25% over the last year, amid concerns about regulation in the electricity market and a volatile oil price.
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