Category: Stock Market

With the S&P/ASX 200 Index (ASX: XJO) touching a new all-time high earlier this week, it’s fair to say that the ASX 200 stocks making their investors happy are outnumbering those that have had a rough month right now. But one ASX 200 stock that decisively falls into the latter category right now would be Brickworks Ltd (ASX: BKW).

Since hitting a new 52-week (and all-time record) high of $31.37 around a month ago, the Brickworks share price has been falling ever since. Today, this diversified construction materials company is trading at $27.74 a share.

That may be up 0.33% for the day, but it puts Brickworks down a hefty 11.6% from its new high from early March.

If Brickworks had just traded ex-dividend, then maybe investors might find this drop easier to digest. However, investors can brace for another share price drop when Brickworks is actually scheduled to trade ex-dividend for its upcoming interim payment of 24 cents per share, fully franked, on 9 April next week.

Brickworks is a company that has an enthusiastic shareholder base, headlined by its largest shareholder,  the respected Washington H. Soul Pattinson and Co Ltd (ASX: SOL). It can also boast of a long history of delivering market-beating returns to investors. So is this pullback a buying opportunity today?

Is this ASX 200 stock a ‘buy-the-dip’ opportunity?

Well, much of the recent selling pressure afflicting this ASX 200 stock appears to have stemmed from Brickworks’ latest half-year earnings report.

As we covered on 21 March, Brickworks reported a 6% decline in revenues to $547 million for the six months to 31 December. The company also revealed an underlying net loss of $37 million for the period.

However, one ASX expert reckons these earnings are nothing for shareholders to worry about. Late last month, my Fool colleague James covered the views of ASX broker Citi.

Citi thought that Brickworks’ earnings were actually better than expected. In the wake of said earnings, this broker retained a ‘buy’ rating on this ASX 200 stock alongside a 12-month share price target of $35. If realised, this would see investors enjoy a potential upside of more than 26% over the coming 12 months, not including dividend returns.

Citi seemed to be buoyed by Brickworks’ optimism over its future rental income potential, as well as the Australian construction industry more broadly.

So that’s how one ASX expert sees this ASX 200 stock right now. No doubt, investors will be hoping that Citi is on the money here. But let’s wait and see if Brickworks can indeed surpass its previous all-time high and hit $35 a share.

The post This ASX 200 stock is down 11% in under a month. Should you buy before it trades ex-dividend? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Why I think these 2 ASX dividend shares are ideal for income investors
• Where I’d instantly invest $10,000 in ASX shares for passive income
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) gold stocks have been handing investors some seriously outsized gains of late.

This comes amid a surging gold price.

The yellow metal hit new record highs again overnight, trading north of US$2,302 per ounce.

At the time of writing, that same ounce is worth US$2,301. That’s up 16% from US$1,984 at the beginning of 2024.

This has helped propel the S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which also contains some smaller gold miners outside of ASX 200 gold stock – up 23.2% since 28 February, when bullion was fetching US$2,030 per ounce.

It’s also seen shares in the world’s largest gold miner, a relative newcomer to the ASX, surge by 24.6% since 28 February.

And a leading broker thinks there’s more outperformance to come.

Any guesses?

If you said Newmont Corp (ASX: NEM), give yourself a virtual gold star.

ASX 200 gold stock tipped for 21% share price gains

Citi has a bullish outlook for Newmont shares, with a price target of $69. (Broker data courtesy of The Australian.)

That’s 21.3% above the current Newmont share price of $56.88.

With its world-class gold and copper mines, Newmont is well-positioned to capitalise on the soaring gold price. (Copper prices are up more than 8% year to date.)

Like other ASX 200 gold stocks, Newmont has been catching tailwinds amid rising expectations of interest rate cuts from the US Federal Reserve and other global central banks. Gold, which pays no yield itself, tends to command higher prices in low or falling interest rate environments.

Central banks have also continued to buy near-record amounts of bullion, supporting global demand.

And, of course, gold’s haven status has been on display, with the price rising amid escalating geopolitical tensions across much of the world.

What’s been happening with Newmont?

Newmont, as you’re likely aware, was previously solely listed on the New York Stock Exchange (NYSE).

That changed after the giant American gold miner acquired ASX 200 gold stock Newcrest Mining last year. The final successful takeover offer was accepted in April 2023.

This saw Newcrest exit the ASX on 26 October. Newmont shares, now dual listed, began trading on the ASX the following day, 27 October.

Newmont reported its full-year results on 23 February.

Commenting on those results, CEP Tom Palmer called 2023 “a transformational year”.

Following Newmont’s successful acquisition of Newcrest, Palmer said, “Our principal focus for 2024 is to integrate and transform our leading portfolio of Tier 1 assets into a unique collection of the world’s best gold and copper operations and projects.”

Palmer added:

With stable production and structured reinvestment throughout the year, we are strongly positioned to deliver on our commitment sin 2024 and set the stage for meaningful growth in 2025 and beyond.

Shares in the ASX 200 gold stock are up 0.5% in early afternoon trade today.

The post Guess which ASX 200 gold stock this leading broker just tipped for 21% gains appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• ASX 200 gold shares surging as gold price hits new records. Now what?
• 5 things to watch on the ASX 200 on Tuesday
• Top ASX shares to buy in April 2024

Motley Fool contributor Bernd Struben 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 Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is bouncing back from yesterday’s horror session and is pushing higher in afternoon trade. At the time of writing, the benchmark index is up 0.5% to 7,822.5 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are storming higher on Thursday:

Imugene Ltd (ASX: IMU)

The Imugene share price is up almost 5% to 11 cents. This has been driven by news that the clinical stage immune-oncology company has received a notice of grant from the Chinese Patent Office. Imugene has been granted claims to protect its oncolytic virotherapy, CF33. This includes VAXINIA (CF33-hNIS) and CHECKvacc (CF33-hNIS-antiPDL1). Oncolytic viruses are designed to both selectively kill tumour cells and activate the immune system against cancer cells. They have the potential to improve clinical response and survival. The patent protects the method of composition and method of use of Imugene’s licensed oncolytic virotherapy all the way out to 2037.

Liontown Resources Ltd (ASX: LTR)

The Liontown Resources share price is up 5% to $1.21. This is despite there being no news out of the lithium developer today. However, it is worth noting that a number of lithium stocks are rebounding strongly on Thursday following a positive night for their peers on Wall Street. And as I noted here yesterday, one leading broker is tipping big returns from Liontown shares. Bell Potter has a speculative buy rating and $1.90 price target on its shares.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is up 2.5% to 82 cents. This morning, this sports betting company announced that the sale of its US business is now complete. Pointsbet has received US$50 million, representing the final instalment of the headline purchase price of US$225 million. As a result, it has transferred the remaining United States-based sports wagering, advanced-deposit wagering, and iGaming operations, together with Banach technology to Fanatics Betting and Gaming (FBG). Shareholders can now look forward to receiving some of the proceeds from the sale through a capital return. Details will be announced later this month.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is up 4% to $2.01. This follows another positive session for the gold price overnight. It hit a record high as geopolitical tensions increased. In other news, this morning Morgan Stanley responded to yesterday’s quarterly update by retaining its overweight rating and $2.45 price target on the gold miner’s shares. This implies over 20% upside for investors.

The post Why Imugene, Liontown, Pointsbet, and Regis Resources shares are storming higher appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX 300 healthcare stock is storming higher on Chinese patent news
• Why Mesoblast, Regis Resources, Westgold, and WiseTech shares are sinking today
• Are Liontown shares dirt cheap and a screaming buy in April?
• These are the 10 most shorted ASX shares
• Buy Pilbara Minerals and these ASX lithium shares for big returns

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PointsBet. 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 Scott Phillips.

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No one knows the inner workings of a company better than those in the boardroom. That’s why digging deeper can be worthwhile when an insider buys or sells. And, today it’s been disclosed that a director of an S&P/ASX 200 Index (ASX: XJO) company converted some shares to cash.

The company in question is up a market-beating 58% over the last year. At the same time, calendar year revenue for this $13 billion behemoth business has grown from $599 million at the end of 2022 to $980 million by the end of 2023.

So, who is taking some of their chips off the table while business is booming?

Cashing out $4 million worth

A change of director’s interest notice published this morning reveals which ASX 200 shares have been kicked to the curb.

According to the notice, CAR Group Ltd (ASX: CAR) co-founder and non-executive director Walter Pisciotta sold 110,915 shares in the company. The transactions took place on the 27 and 28 March, in addition to the 2 April.

The on-market sales amounted to $3.97 million from a company held under a family trust.

It is helpful to give the sale some context. Despite liquidating nearly $4 million worth of shares in this ASX 200 company, Pisciotta still retains a significant financial interest in the online vehicle marketplace.

Even after the sale, Pisciotta holds 8.7 million shares worth $305 million through Clear-Way Investments Pty Ltd. Although, the ownership does not qualify as a substantial holding (more than 5% of shares on issue) — working out to be around 2%.

No information was supplied for why Pisciotta cashed out some of his shares. However, given the relatively small portion of his total stake, it is unlikely due to any change in view on the company’s future prospects or quality.

What do brokers think of this ASX 200 share?

As reported by The Motley Fool last week, CAR Group currently resides in Macquarie’s model portfolio. Analysts at the investment bank believe a 7.5% weighting towards the online auto classifieds company is reasonable, yet brand it with a price target of $32.70, 6% below the current $34.87.

The price target given by Goldman Sachs is a little more optimistic. Citing a reasonable valuation, analysts at Goldman slapped this ASX 200 share with a target price of $39.40. This would suggest a potential 13% upside from here.

The post Guess which ASX 200 insider just dumped $4 million in company shares appeared first on The Motley Fool Australia.

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More reading

• Here are the top five ASX 200 shares in Macquarie’s model growth portfolio
• 13 ASX 200 shares with ex-dividend dates next week

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 recommended Car Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Northern Star Resources Ltd (ASX: NST) shares are having another positive session.

In morning trade, the gold miner’s shares have climbed almost 2% to a new 52-week high of $14.94.

This means that its shares are now up approximately 19% since this time last year, which is more than double the market return over the same period.

But if you thought this market-beating performance was new, think again.

Northern Star shares are arguably one of the least talked about success stories on the Australian share market.

Over the last 15 years, the company has gone from being just a minnow to a titan of the gold sector. This has led to the gold miner’s shares delivering an average total return of 58.85% per annum over the period.

To put this staggering return into context, a $5,000 investment in Northern Star shares back in 2009 would now be worth a whopping $5.2 million. That’s not a typo.

And let’s not forget the countless dividends it has paid out over the years.

Would I be crazy for buying Northern Star shares at $15?

Well, the first thing to acknowledge is that investing in Northern Star today is very different to 15 years ago. A $5,000 investment today is almost certainly not going to turn into $5 million after a decade and a half.

But that doesn’t mean that some decent returns won’t be coming for investors that jump in today.

For example, the team at Macquarie is feeling very bullish on the gold miner. Its analysts updated their near term commodity price forecasts last month and lifted their gold price assumptions through to 2028.

This led to the broker increasing its earnings estimates for Northern Star and ultimately its valuation.

Macquarie currently has an outperform rating and $17.00 price target (previously $16.00) on Northern Star’s shares.

Based on its current share price, this implies potential upside of approximately 14% for investors over the next 12 months.

If the broker’s recommendation proves accurate, a $5,000 investment today in the gold miner would turn into $5,700 in a year.

But the returns won’t necessarily stop there. Macquarie is expecting Northern Star to pay dividends of 36.5 cents per share in FY 2024 and then 38.7 cents per share in FY 2025. This will mean dividend yields of 2.5% and 2.6%, respectively.

Combined, this would mean a total return 12-month of over 16% for investors. So, overall, it doesn’t appear to be too late to buy high-flying Northern Star shares.

The post Would I be crazy to buy Northern Star shares at almost $15? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 gold shares surging as gold price hits new records. Now what?
• 5 things to watch on the ASX 200 on Tuesday
• Why ASX 200 gold stocks dazzled shareholders in March

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) uranium stocks have broadly rewarded shareholders amid a surge in global demand for the radioactive fuel.

Some top producers have now even entered the prized and highly elusive 10-bagger zone. That’s a stock that returns 10 times its initial investment, or 900%.

Enter Paladin Energy Ltd (ASX: PDN).

A 10-bagger ASX 200 uranium stock

Five years ago, you could have picked up Paladin Energy stock for 14 cents per share. At the time uranium was selling for around US$25 per pound.

But amid renewed global interest in nuclear power as a reliable baseload source with no direct carbon emissions, uranium prices began to lift off in late 2021, offering some heady tailwinds for ASX 200 uranium stocks.

Uranium prices averaged at just under US$67 per pound in 2023 before hitting record highs of more than US$106 per pound in early February this year. Prices have since retraced from those all-time highs to just under US$88 per pound this week.

The big 2024 price lift was driven by a nuclear expansion pledge from 22 nations at December’s COP28 climate conference. The countries, including Japan, the United States and France, promised to triple their nuclear power capacity by 2050.

And this comes as the world’s two most populous countries, India and China, continue to lead the charge in nuclear power plant construction.

With all these tailwinds behind it, the Paladin Energy share price has soared to $1.51 in intraday trade today.

Meaning the ASX 200 uranium stock has edged past 10-bagger status to return a whopping 978.6% over five years (or 10.786 times your investment).

That’s enough to turn a $10,000 investment into a sizeable nest egg of $107,857.

What now for the Paladin Energy share price?

The Paladin Energy share price shows little sign of slowing down.

The ASX 200 uranium stock is up 3.1% today and up 23.8% over the past month.

On Tuesday, the company stirred up fresh excitement when it reported that uranium production at its Langer Heinrich Mine (LHM) in Namibia had commenced.

With Paladin now able to capitalise on historically high uranium prices, Bell Potter upgraded its rating to a ‘buy’ with an increased price target of $1.65.

That represents a potential 9.3% gain from the recent Paladin Energy share price.

The broker said Paladin’s Tuesday announcement marked “an important milestone in returning LHM to production and the first step towards targeting a 6Mlb pa run-rate”.

They said the ASX 200 uranium stock will now “build inventory for approximately 3-months we estimate, putting them in a position to begin shipments at the end of 4QFY24 or beginning 1QFY25”.

The post This ASX 200 uranium stock has turned $10,000 into $107,857 in just 5 years! appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why now is the time to buy to buy this ASX 200 uranium stock
• How much would I have now if I’d invested $10,000 in Betashares Global Uranium ETF (URNM) a year ago?
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Bernd Struben 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 Scott Phillips.

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Keen Motley Fool readers might have noticed that amid yesterday’s stock market route, ASX tech shares were, by far, the worst-performing sector of the market.

As we recorded in our end-of-day wrap yesterday, the S&P/ASX 200 Information Technology Index (ASX: XIJ) took the brunt of yesterday’s selling pressure, collapsing by 3.94% by the closing bell.

Well, today, the S&P/ASX 200 Index (ASX: XJO) has rebounded strongly, currently up an encouraging 0.55%. And lo and behold, ASX tech shares are helping to lead the charge higher so far this Thursday.

ASX tech shares are currently the second-best performing sector on the market, with the Information Technology Index presently up by an encouraging 1.32%. That’s only behind gold shares in terms of winners today.

Breaking this down, we are seeing some great moves from some of the ASX’s most prominent tech stocks. Take Megaport Ltd (ASX: MP1) for instance. Its shares are enjoying a 2.6% lift right now to $13.85 each.

Xero Ltd (ASX: XRO) is up 2.1% to $127.63, while WiseTech Global Ltd (ASX: WTC) has gained 1.75% up to $91.78 a share.

In other words, we are seeing a strong rebound for ASX tech shares today.

But why? Why has this corner of the market recovered so decisively from yesterday’s sell-off?

Why are ASX tech shares leading the Australian share market higher?

Well, it’s hard to say. It could be, at least partially, a result of what happened in the US markets last night. The American Wednesday session saw many US shares limp, as represented by the Dow Jones Industrial Average Index (DJX: .DJI)’s 0.11% drop.

However, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) went the other way, rising by 0.23%. That was assisted by many prominent US tech shares, including Apple, Amazon, Alphabet, Meta Platforms and Tesla, recording hefty gains.

Meta stock in particular was up 1.88% to US$506.74 a share by the closing bell this morning, while Tesla shares rose 1.5% to US$168.38.

These moves in turn may have been helped by comments from the chair of the US Federal Reserve yesterday.

As reported by CNBC, Jerome Powell told investors that the US economy was strong in his view. Although he noted that interest rate cuts were not a done deal for 2024 just yet, Powell stated that the Fed was making “progress” on reducing inflation as it moves “sustainably down toward 2 percent”.

Powell’s comments, as well as the subsequent performance of some of the US’ (and the world’s) largest tech shares, is probably enough to give our local ASX tech shares a boost today.

No doubt ASX investors will be breathing a sigh of relief. Let’s see how ASX tech shares end up today.

The post Why are ASX tech shares rebounding strongly on Thursday? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX shares boasting better revenue growth than Tesla
• Why Mesoblast, Regis Resources, Westgold, and WiseTech shares are sinking today
• Got $5,000? 5 ASX shares to buy for lasting wealth
• Top ASX shares to buy in April 2024
• Experts name 3 excellent ASX growth shares to buy in April

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet, Amazon, Apple, Meta Platforms, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Megaport, Meta Platforms, Tesla, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Megaport, and Meta Platforms. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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I’m a firm believer that buy and hold investing with ASX shares is the best way to grow your wealth.

However, you can’t just buy any old share. If you’re planning to make a long-term investment, you need to invest in the crème de la crème. After all, the cream always rises to the top.

So, which roaring ASX shares could be great long-term investments? Let’s take a look at three shares that Macquarie rates as buys:

Goodman Group (ASX: GMG)

This integrated property company’s shares have been strong performers over the last decade. During this time, they have delivered an average total return of 22% per annum. This is more than twice the average market return.

While returns of that level are far from guaranteed in the future, Goodman certainly is well-positioned to give it a shot. This is thanks to its focus on owning, developing, and managing high-quality, sustainable properties that are close to consumers and provide essential infrastructure for the digital economy.

Macquarie is very positive on its outlook and recently put an outperform rating and $34.84 price target on its shares.

Aristocrat Leisure Limited (ASX: ALL)

Another ASX share that Macquarie rates very highly is Aristocrat Leisure. Over the last decade, it has delivered a mouth-watering average total return of 24% per annum.

Aristocrat Leisure is an entertainment and content creation company powered by technology to deliver world-leading mobile and casino games which entertain millions of players across the globe every day.

It has three operating units: Aristocrat Gaming (poker machines), Pixel United (digital games), and Anaxi (real money gaming). All three businesses have significant long-term growth potential, which is expected to underpin solid and sustainable earnings growth long into the future.

Macquarie currently has an outperform rating and $48.50 on its shares.

Pro Medicus Limited (ASX: PME)

Finally, Macquarie sees value in this health imaging technology company’s shares despite its incredible run over the last 12 months. The ASX share is up 58% since this time last year, which means it has now delivered a staggering average total return of 62% per annum over the last decade.

In case you’re not familiar with the company, it is a leading provider of radiology information systems (RIS), Picture Archiving and Communication Systems (PACS), and advanced visualization solutions across the globe.

Its hugely popular Visage Imaging platform is regarded as the best in its class and has been underpinning rapid earnings growth in recent years. Macquarie believes this growth can continue and its forecasting earnings per share growth of approximately 30% in both FY 2024 and FY 2025.

Its analysts have an outperform rating and $120.00 price target on its shares.

The post 3 roaring ASX shares to hold for the next 20 years appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group, Macquarie Group, and Pro Medicus. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Goodman Group and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Today is a good day to own Woodside Energy Group Ltd (ASX: WDS) shares.

Why?

Because the S&P/ASX 200 Index (ASX: XJO) energy stock pays eligible investors its final dividend today.

Woodside shares traded ex-dividend on 7 March. Meaning passive income investors will receive the dividend payout for any shares held at market close on 6 March.

That will land in their selected bank accounts, as Woodside’s dividend reinvestment plan remains suspended for now.

And while the dividend is down from last year, it’s still well above average for an ASX 200 stock.

Woodside shares paying off today

Woodside reported its full-year 2023 financial results on 27 February.

As expected, the company’s financials took a hit from lower oil and gas prices. Though ASX 200 investors took this in stride, sending Woodside shares up 0.9% on the day.

Woodside reported a 30% year on year decline in its average realised price to US$68.60 per barrel equivalent. That pain was partially offset by a 19% increase in annual sales volumes, which reached 201.5 million barrels.

All told this saw revenue drop by 17% from 2022. Though it still came in at an impressive US$13.99 billion.

With production costs also rising, the decline in revenue saw a 37% fall in underlying net profit after tax. Though this too was still a very impressive US$3.32 billion.

With these headwinds in mind, the final dividend was cut by some 57% from 2022 to 91.7 cents per share, fully franked.

Commenting on Woodside’s performance at the time, chairman Richard Goyder noted, “We achieved strong financial performance in 2023. While oil and gas prices eased from 2022’s record highs, robust product demand continued.”

As for the dividend, Goyder added:

In 2023, we recorded an annual net profit after tax of $1.7 billion and an underlying net profit after tax of $3.3 billion. Based on this, the board has determined a fully franked final dividend of 60 US cents per share, resulting in a total full-year dividend of 140 US cents per share.

If you bought Woodside shares for the dividend on 6 March, you could have picked the stock up for $30.52 a share. Meaning the final dividend payout alone represents a 3% fully franked yield.

Atop Woodside’s interim dividend of $1.243– paid on 28 September – the ASX 200 energy stock trades on a fully franked trailing yield of 7.2%.

Looking ahead

Looking at what could impact Woodside shares in the months ahead, the company maintained its guidance for 2024.

Woodside forecasts production of 185 million barrels of oil equivalent (Mmboe) to 195 Mmboe for FY 2024. Capital expenditure is expected to be in the range of US$5 billion to US$5.5 billion.

The post Own Woodside shares? Today is payday! appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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 Scott Phillips.

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The Suncorp Group Ltd (ASX: SUN) share price has continued its positive run on Thursday and hit a new 52-week high.

In morning trade, the insurance giant’s shares are up over 1% to $16.53.

Why is the Suncorp share price at a new 52-week high?

Investors have been buying the company’s shares again on Thursday thanks to the release of an announcement this morning.

According to the release, Suncorp has signed a share sale and purchase agreement with Resolution Life to sell its New Zealand life insurance business, Asteron Life.

Resolution Life will purchase Asteron Life for a total of NZ$410 million (A$375 million). This includes an upfront payment of NZ$250 million (A$223 million) at completion with the remainder due 18 months after completion. The company notes that interest will be earned on the outstanding balance.

The company’s New Zealand general insurance business remains unchanged and part of the Suncorp Group.

What’s next?

The transaction is subject to New Zealand regulatory approvals and notifications. This includes the Reserve Bank of New Zealand, the Overseas Investment Office, and Commerce Commission. But if everything goes to plan, it is expected to complete within nine months.

Importantly for customers of Asteron Life, the transaction will result in no change to its business operations. It is expected to continue to operate under the same brand with the same management team. It will also continue to support advisers and their customers using the same local New Zealand team and remain open to new business after the acquisition completes.

‘Reshaping’ Suncorp

Suncorp Group’s CEO, Steve Johnston, notes that this transaction is part of the company’s plan to reshape its business. He said:

The Transaction continues the reshaping of the Suncorp Group, and positions both the general and life insurance businesses for ongoing growth and success – benefiting employees, customers, and other stakeholders. We believe it is a win-win for our stakeholders.

We have simplified our portfolio in recent years under a strategy designed to align everyone at Suncorp around improving the way we deliver value for our Australian and New Zealand customers. We remain committed to the New Zealand general insurance market as part of our refocused group.

This latest gain means that the Suncorp share price is now up 36% over the last 12 months.

To put this into context, a $20,000 investment a year ago would now be worth $27,200. And that doesn’t include the dividends that Suncorp has paid out over the period.

The post Suncorp share price hits new 52-week high amid $375m asset sale appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
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Motley Fool contributor James Mickleboro 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 Scott Phillips.

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