Here’s a closer look at what’s happening with the energy giant’s share price…
The post Is something big about to go down with Origin Energy (ASX:ORG) shares? appeared first on The Motley Fool Australia. –
The Origin能源 (ASX: ORG) share price weakened in afternoon trade, finishing the day down 2.44% to $4.80.
It comes amid reports the energy giant has decided to cancel its investor day, which was scheduled for next month.
While a formal announcement has not been made by Origin, the news might be sparking some questions.
Investors put downwards pressure on the Origin Energy share price today. This is despite there being no announcements posted by the S&P/ASX 200 Index (ASX: XJO) energy company.
However, The Australian has suggested Origin Energy has cancelled its upcoming investor day. As a result, onlookers could be wondering what would prompt such action. One query, in particular, is whether there could be a major shift in strategy planned.
For example, some market participants are asking if Origin could be on the table for another big oil and gas deal. This comes at a time when megadeals are being executed left, right, and centre.
Specifically, some investors are wondering whether the company could be mulling the sale of its energy retail business. Any sale would be eyebrow-raising considering it was only last month the company executed an agreement to sell a 10% interest in Australia Pacific LNG worth $2.12 billion.
Origin Energy share price snapshot
While the Origin Energy share price has diverted a negative return in 2021 so far, it is still less than spectacular. Having gained 0.5% since the year commenced, Origin shares are underperforming the benchmark index by around 8%.
Unlike many other ASX-listed shares, the Origin Energy share price is still a long way off its pre-COVID levels. Prior to the market crash in March 2020, the energy retailer was fetching a price of around $8.74.
Finally, the company currently holds a market capitalisation of $8.56 billion.
The post Is something big about to go down with Origin Energy (ASX:ORG) shares? appeared first on The Motley Fool Australia.
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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.