Fund managers including L1 Capital, Oracle Advisory Group, Yarra Capital Management, Atlas Funds Management, Plato Investment Management, Equity Trustees Asset Management, Pendal Group, Cooper Investors, Perennial Partners, BKI Investment Company, Quest Asset Partners, Antares Capital, Greencape Capital, Allan Gray and First Samuel have invested in Origin Energy Ltd (ASX:ORG).

Yarra Capital Management breaks the thesis into three parts: a resilient energy markets business supported by batteries and retail growth, the APLNG stake offering production expansion and refinancing upside, and the Octopus Energy and Kraken holding. First Samuel highlights electricity gross margins running well above Origin's medium-term target range, and Plato points to strong cash flow of more than $2 billion supporting a steady dividend.

Pendal Group warns that the Energy Markets division faces an underlying earnings decline as wholesale electricity prices weaken, with more pressure building in FY28. Yarra noted lower oil prices and softer wholesale power prices weighed on the stock earlier in the year, and Plato observed profit fell 22% year on year even though the result beat lowered expectations.

Origin Energy Ltd. is an integrated energy company headquartered in Sydney, Australia. Founded in 1946, it operates across four business segments: Energy Markets (electricity retailing, power generation, and LPG operations), Share of Octopus Energy (investment in Octopus Energy Group Limited), Integrated Gas (growth assets and LNG price risk management), and Corporate (support activities). Core operations include natural gas exploration, electricity generation, wholesale and retail energy sales, and liquefied natural gas (LNG) trading.