Orsted stock rises as UK tax ruling and Andel stake sale reshape outlook
Published on 09/11/2026 at 14:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Orsted stock (ISIN DK0060094928) has been trading close to DKK 135.60 on Nasdaq Copenhagen as of September 10, 2026, after a UK advisory commission backed British taxation of two of its offshore wind farms in line with the company’s position and investors digested a recent stake sale by major shareholder Andel.
UK tax ruling supports Orsted’s position
According to Reuters on September 11, 2026, an advisory commission ruled that Orsted’s Walney Extension and Hornsea 1 wind farms should be taxed primarily in the United Kingdom, a decision that supports the company in a long-running dispute between Danish and UK tax authorities.
In a separate company announcement dated September 10, 2026, Orsted said it had received the final opinion regarding taxation of Walney Extension and Hornsea 1, confirming that the commission’s view aligns with its expectation that the primary taxation right lies with the UK authorities, as detailed by Orsted.
This outcome reduces uncertainty around the future tax treatment of these key assets and removes the risk of double taxation, a factor that had weighed on the valuation of Orsted’s British offshore portfolio according to coverage summarized by EnergyWatch on September 11, 2026.
Andel trims stake but remains key shareholder
Danish energy group Andel has simultaneously adjusted its exposure to Orsted. As reported by TipRanks on September 10, 2026, Andel sold 22.8 million Orsted shares with a nominal value of DKK 10 each, reducing its holding from 5.0% to 3.28% of Orsted’s share capital and voting rights after settlement on September 11, 2026.
According to Ground News on September 11, 2026, the sale was executed at a price of DKK 135.50 per share, corresponding to proceeds of around DKK 3.0 billion, and leaves Andel as Orsted’s third-largest shareholder with a stake of roughly 3.3%.
Citing the same report, Andel plans to use the proceeds to support Denmark’s electrification initiatives, while maintaining a significant minority position in Orsted, underscoring continued strategic alignment even after the reduction of its stake.
Analysts see value after rights issue and tax clarity
The combination of the tax ruling and the stake sale comes against the backdrop of improving analyst sentiment. As summarized by MarketScreener on September 11, 2026, RBC Capital Markets recently raised its recommendation on Orsted to an outperform-type rating and lifted its price target to 180.00 Danish crowns, judging the company’s core assets as undervalued compared with the current market price.
The same overview notes that the average analyst price target for Orsted stands at about DKK 172.30, implying an upside of roughly 27% compared with the recent closing level of DKK 135.60, highlighting a meaningful discount of the current valuation relative to consensus expectations.
Energy-focused outlet EnergyWatch also reports that Citi maintains a positive view of Orsted as an investment despite the Andel share sale, indicating that some major banks see the stake reduction more as a portfolio move by Andel than a signal about Orsted’s fundamentals.
Recent financial performance and guidance
Orsted’s latest reported figures provide additional context for these valuation debates. According to a recent corporate news summary on September 10, 2026, the company delivered Q2 2026 EBITDA of DKK 5.4 billion and reaffirmed its full-year guidance, with the stock trading around DKK 135.45 following the release as detailed by a report titled 'Orsted stock gains on Q2 2026 EBITDA and steady guidance' on Corporate news summary.
Those Q2 2026 figures compare with lower earnings in the prior-year period, indicating a year-on-year improvement in EBITDA that supports the company’s decision to maintain its guidance range for 2026, although detailed prior-year comparatives were not highlighted in the same summary.
For longer-term investors, the combination of stabilized earnings, reaffirmed guidance and the removal of tax uncertainty around Walney Extension and Hornsea 1 may help underpin confidence in Orsted’s ability to generate cash flow from its offshore wind portfolio.
Stock trades below average price targets
As of the close on September 10, 2026, Orsted stock ended at approximately DKK 135.60 on Nasdaq Copenhagen, while intraday data on September 11, 2026, showed trading around DKK 135.22, reflecting a modest daily move of about minus 0.28% and leaving the shares about 10.4% higher since the start of 2026, according to price tables reproduced by MarketScreener.
The same overview indicates that with a recent closing price of DKK 135.60 and an average analyst target of DKK 172.30, Orsted stock trades at roughly a 27% discount to consensus, suggesting room for upside if the company achieves its operational and financial goals and if the market continues to re-rate European renewables after a challenging period.
For investors, the key question over the coming quarters will be whether improved clarity on taxation, the stabilization of the shareholder base after Andel’s stake reduction and solid Q2 2026 earnings can translate into further share price gains from the current level near the mid-130s Danish crowns.
Orsted stock price snapshot
Orsted stock last closed at around DKK 135.60 on Nasdaq Copenhagen on September 10, 2026, with intraday indications near DKK 135.22 on September 11, 2026, and remains below the average analyst price target of DKK 172.30 that implies an upside potential of about 27% from the latest closing level.
Key facts on Orsted stock
- Company: Orsted A/S
- ISIN: DK0060094928
- Ticker: ORSTED
- Trading venue: Nasdaq Copenhagen
- Price (as of September 10, 2026): 135.60 DKK
- Sector / Industry: Utilities / Renewable Energy
- Index membership: OMX Copenhagen 25
