Origin Energy is under Algo Engine sell conditions, however, we’ve been expecting stronger earnings to support another leg in the share price rally.
ORG reported its 1H19 with EBITDA of $1.73bn, which is ahead of market consensus. The dividend was reinstated at $0.10 per share.
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We see the balance sheet improving which will lead to ongoing increases in the dividend. Based on FY20 earnings we have ORG now trading on a 5.5% yield.
We’re sellers “short term” on a push above $8.00 in ORG.
