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Ausnet Services Ltd (ASX: AST) share price has jumped in early trade as the company agrees to terms set out in an offer from Brookfield Asset Management to acquire all of its outstanding shares.

Ausnet confirmed the offer values its shares at $2.65 each, a step up from Brookfield’s previous offer of $2.50 around a month ago.

At the time of writing, Ausnet shares are trading for $2.57 apiece, up 4.05% on their opening price.

What did Ausnet announce today?

Ausnet’s announcement notes that it agreed to the terms set out in Brookfield’s proposal and has subsequently entered into a scheme implementation deed.

Brookfield is representing a consortium of investors including Sunsuper Superannuation Fund, Alberta Investment Management Corporation, and two large institutional investors from Ontario, Canada.

Back in September, Brookfield first made its proposal when it offered $2.50 per Ausnet share to acquire the company. At the time, this represented a 26% premium to Ausnet’s share price of $1.98.

The revised offer now puts Brookfield at an enterprise value of $17.8 billion, equating to $2.65 per share for its available equity.

As such, the offer is roughly a 7% premium to Ausnet’s closing price on Friday and a 34% bump on when it first received the offer on 20 September.

As an additional sweetener, if the scheme is implemented after March next year, Ausnet shareholders will get “an additional consideration from Brookfield of $0.000260274 per share for each day after 31 March 2022” that it is not implemented.

One large Ausnet shareholder, Singapore Power – which owns 32.74% of Ausnet’s shares – is in support of the proposal and intends to vote in favour, according to the announcement.

Curiously, one caveat in Brookfield’s offer is that Ausnet must cease all discussions with all other competing parties.

Consequently, it has terminated its due diligence process with APA Group (ASX: APA) after APA had offered a cash and scrip deal on a valuation of $2.60 per Ausnet share in a competing bid last month.

Although, Ausnet did state that “if APA wishes to make a further proposal, (it is) free to do so, as is any other party”.

The company needs to tread carefully, however, as it will be “required to pay Brookfield a break fee of $101,674,267 (or 1% of its equity value) if the Ausnet board ultimately recommends a competing, superior proposal”.

Speaking on the announcement, Ausnet chair Peter Mason said:

For the last several weeks the Board has been extremely focused on ensuring a competitive process. This has resulted in a binding proposal from Brookfield at a price that provides full value to all AusNet shareholders. The binding proposal, secured at a significant premium to where the share price was trading prior to the first of the six proposals being received, deserves to be put before our shareholders for their consideration.

What’s next for the Ausnet share price?

Shareholders can expect to receive the scheme booklet before the end of March 2022 when they will vote on the scheme.

Given that Singapore Power and its board have already pushed to approve, many are curious to see the outcome from the company’s remaining shareholders.

It’s been a year of outsized returns for Ausnet after the onset of this acquisition saga. The Ausnet share price has gained 41% since January 1, extending its return in the last 12 months to 23.5%.

The post Ausnet (ASX:AST) share price jumps as Brookfield offers $2.65/share appeared first on The Motley Fool Australia.

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The author Zach Bristow has no positions 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.

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The IGO Ltd (ASX: IGO) share price is on the move on Monday morning.

At the time of writing, the battery materials focused mining company’s shares are up 4% to $10.03.

Why is the IGO share price storming higher?

Investors have been bidding the IGO share price higher this morning following the release of its first quarter update.

For the three months ended 30 September, IGO’s Nova production was within guidance, with nickel, copper, and cobalt production of 6,889 tonnes, 3,023 tonnes, and 253 tonnes, respectively. In addition, Nova’s cash costs of $1.99 per payable pound was better than guided to.

In respect to its financials, IGO’s sales revenue was 29% lower quarter on quarter to $189.2 million. This was driven by the divestment of the Tropicana Gold Operation on 31 May 2021.

It was a similar story on the bottom line, with IGO’s net profit after tax falling 90% quarter on quarter to $46 million. This was due to the previous quarter including a post-tax gain on the sale of the Tropicana Operation of $385 million.

At the end of the period, IGO’s total cash stood at $552 million. This is an increase of $24 million since the end of June and does not include its undrawn debt facilities of $450 million.

Management commentary

IGO’s Managing Director and CEO, Peter Bradford, commented: “We are pleased to have commenced FY22 strongly with a solid quarter of safe performance from Nova. In parallel, good progress was achieved within the lithium joint venture, with key growth projects being advanced during the first reporting period following the successful completion of IGO’s investment in the lithium joint venture with Tianqi Lithium Corporation.”

“At the Greenbushes Lithium Mine, Chemical Grade Plant 2 has been commissioned, Tailings Retreatment Plant construction activity was progressed with commissioning expected in early 2022, and the EPCM contract for the design and engineering for Chemical Grade Plant 3 was awarded to Lycopodium Limited.”

“At the Kwinana Refinery commissioning of Train 1 has been progressed with a key milestone achieved during August with the first lithium hydroxide produced,” he added.

Mr Bradford notes that the above developments come at a time when lithium demand is increasing strongly, driving prices higher. This could bode well for the company’s future and the IGO share price in 2022.

The IGO share price is now up 49% in 2021.

The post IGO (ASX:IGO) share price storms higher on Q1 update 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 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.

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The Macquarie Group Ltd (ASX: MQG) share price has returned from its trading halt and is dropping.

In early trade, the investment bank’s shares are down 2.5% to $193.26.

Why was the Macquarie share price halted?

The Macquarie share price was placed in a trading halt last week so it could undertake a $1.5 billion institutional placement following its half year update.

Macquarie’s Group Chief Executive Officer, Shemara Wikramanayake, explained: “Having deployed $5.5 billion of capital over 2H21 and 1H22, we continue to see a strong pipeline of opportunities. Raising new capital provides us with additional flexibility to invest in new opportunities where the expected risk-adjusted returns are attractive to our shareholders, while maintaining an appropriate capital surplus.”

This morning the Macquarie share price has returned to trade after announcing the successful completion of the placement.

According to the release, the placement was conducted by way of a bookbuild and will result in the issue of 7.7 million new fully paid ordinary shares at a price of $194.00 per new share. This represents a discount of just 1.9% to the Macquarie share price prior to its halt.

Ms Wikramanayake commented: “We are very pleased with the success of the Placement and the strong signal of support delivered from Australian and international institutional shareholders. Macquarie remains committed to investing in the growth of our businesses in a disciplined manner.”

A share purchase plan will soon follow, providing shareholders with the opportunity to apply for up to $30,000 of shares. This will be offered at the lower of the placement price (adjusted for the interim dividend) or a 2% volume weighted average price during the five days prior to the closing date of the share purchase plan.

Half year results impress

It’s not often that a capital raising is undertaken at such a small discount to a company’s current share price.

However, Macquarie was able to achieve this after impressing the market with its half year result.

For the six months ended 30 September, the investment bank reported a first half net profit of $2,043 million. This was double what it recorded in the prior corresponding period and in line with the second half of FY 2021. This allowed the Macquarie Board to declare a partially franked interim dividend of $2.72 per share.

The result went down well with the team at Citi. This morning it upgraded the investment bank’s shares to a buy rating with a $226.00 price target.

Despite today’s decline, the Macquarie share price is still up almost 40% in 2021.

The post Macquarie (ASX:MQG) share price falls after completing $1.5bn capital raising 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 no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Due to a disappointing finish to the month, the S&P/ASX 200 Index (ASX: XJO) recorded a small monthly decline in October and finished the period at 7,323.7 points.

While a good number of shares dropped with the market, some fell more than most. Here’s why these were the worst performing ASX 200 shares last month:

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price was the worst performer on the ASX 200 last month with a decline of 22.3%. Investors were selling the coal miner’s shares amid a pullback in coal prices during the month. This follows reports in China that coal producers in the country have agreed to observe a price ceiling for thermal coal ahead of the winter heating season.

EML Payments Ltd (ASX: EML)

The EML Payments share price wasn’t far behind with a disappointing 21.3% decline during the month. Investors were selling the payments company’s shares following the release of an update on regulatory action by the Central Bank of Ireland (CBI). The CBI revealed that it is planning to take action against EML’s PFS Card Services (Ireland) business. While no financial details have been provided by EML, management warned that the potential directions “could materially impact the European operations of the Prepaid Financial Services (PFS) business.”

Codan Limited (ASX: CDA)

The Codan share price was out of form and sank 19.3% in October. All of this decline came in the final week of the month following the release of the technology company’s annual general meeting update. Investors appear to have been concerned with comments regarding its softer growth outlook. Management also highlighted that COVID-19 tailwinds contributed $15 million to $20 million of sales in FY 2021. These tailwinds are unlikely to be repeated in FY 2022.

Pendal Group Ltd (ASX: PDL)

The Pendal share price was a poor performer and tumbled 17.4% over the period. Investors were selling the fund manager’s shares following the release of its latest funds under management (FUM) update. For the September quarter, Pendal reported a large increase in its FUM. However, this increase was driven by a recent acquisition. Excluding this, Pendal reported net fund outflows of $2.3 billion during the three months.

The post These were the worst performing ASX 200 shares in October appeared first on The Motley Fool Australia.

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• These were the best performing ASX 200 shares last week

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. owns shares of and has recommended EML Payments and Netwealth. The Motley Fool Australia owns shares of and has recommended EML Payments and Netwealth. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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A disappointing end to the month led to the S&P/ASX 200 Index (ASX: XJO) finishing the period with the smallest of monthly declines at 7,323.7 points.

The good news is that this didn’t stop a number of shares from charging higher in October. Here’s why these were the best performing ASX 200 shares last month:

Perenti Global Ltd (ASX: PRN)

The Perenti share price was the best performer on the ASX 200 last month with a 23.6% gain. This appears to have been driven by a positive reaction to the mining services company’s annual general meeting. At the meeting management retained its guidance and spoke positively about the future, noting that investments have been made to support its sustainable growth. In response to the meeting, Macquarie retained its outperform rating and lifted its price target to $1.10.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price wasn’t far behind with a gain of 22.7% during the month. Investors were fighting to buy the investment platform provider’s shares in October after the release of a strong first quarter update. Netwealth reported record first quarter net inflows of $4 billion, which took its funds under administration (FUA) to $52 billion. In response, Ord Minnett retained its buy rating and lifted its price target to $19.50.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake Resources share price was on form and charged 21.9% higher over the period. This appears to have been driven by a strong quarterly update by the gold miner. Silver Lake reported record quarterly gold production of 31,033 ounces at its Deflector operation. This took its group quarterly gold production to 64,947 ounces. In light of this, management believes it is well-positioned to deliver its FY 2022 group gold sales guidance of 235,000–255,000 ounces.

GUD Holdings Limited (ASX: GUD)

The GUD share price was a strong performer and rose 21.4% in October. There were a couple of catalysts for this strong gain. One was the release of a trading update at the Citi Australia & NZ Investment Conference. GUD revealed that demand for its products has remained resilient despite widespread and protracted lockdowns. As a result, GUD’s revenue and EBIT are currently tracking in line with management’s expectations. In addition, late on in the month, the company announced an agreement to acquire specialist lighting company Vision-X for US$53 million.

The post These were the best performing ASX 200 shares in October appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Monday
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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. owns shares of and has recommended Netwealth. The Motley Fool Australia owns shares of and has recommended Netwealth. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) (Soul Patts) share price may be one worth considering for a few different reasons.

This investment conglomerate is one of the oldest businesses on the ASX, having been around for almost 120 years.

Its historical performance shows outperformance of the index over the last five, ten and twenty years.

But there could be good reasons to continue to think about this business:

Lower price

A lower price can be an attractive thing when considering to buy shares of a business. A cheaper price doesn’t always mean better value, however if the underlying business has not changed then that could signal that it’s an opportunity.

Over the last month the Soul Patts share price has fallen by almost 15%.

It may be worth keeping in mind that there is an underlying portfolio value of Soul Patts because of all of its investments in businesses like TPG Telecom Ltd (ASX: TPG), Brickworks Limited (ASX: BKW) and New Hope Corporation Limited (ASX: NHC). That particular trio of companies are investments that Soul Patts has held for many years when they were much smaller businesses.

Increasing diversification

Soul Patts is working on becoming an even more diversified business with continuing growth potential.

The investment conglomerate aims to have a portfolio of assets which generate reliable cashflow through market cycles which serves to protect downside in market corrections.

It also looks to invest for the long-term with a disciplined and value-focused approach to investing through market cycles to deliver returns.

Soul Patts’ investment style allows it to invest in and support companies from an early stage and grow with them over the long-term. It can invest in various asset classes such as listed equities, private equity, venture capital, property, structure credit and cash.

The business has been investing in new areas in recent years. The investment conglomerate has been investing in agriculture and luxury retirement living.

However, after the recent acquisition of the listed investment company (LIC) Milton, it is now looking at other areas. The Milton CEO and managing director has become the new chief investment officer of Soul Patts. Mr Brendan O’Dea has had a number of roles, including being the chief operating officer of Citigroup’s Pan Asian Equities, head of Japanese equities and head of US equity proprietary investments.

Soul Patts outlined it is looking to build around platforms for growth. Some of the key thematics that it’s looking at includes education, financial services, agriculture, energy transition and health and ageing. The investment conglomerate noted the sell down of some of Milton’s large cap shares will be used for private markets, global shares, property, ‘structured yield’ and ‘real assets’.

Dividend record

One of the key objectives of Soul Patts is to deliver a consistent growing dividend. It has been successful with this goal for over 20 years. The company is the only one in the All Ordinaries Index to have achieved this growth record.

Soul Patts believes that the merger with Milton will allow for higher cash generation from increased portfolio dividends.

In FY21, it continued its dividend growth streak with an increase of the total dividend by a further 3.3%.

At the current Soul Patts share price, it has a grossed-up dividend yield of 2.7%.

The post 3 reasons why the Soul Patts (ASX:SOL) share price could be a buy appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Brickworks. The Motley Fool Australia owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Westpac Banking Corp (ASX: WBC) share price will be one to watch on Monday.

This follows the release of the banking giant’s full year results this morning.

Westpac share price on watch amid strong profit growth and share buyback

• Statutory net profit up 138% year on year to $5,458 million
• Cash earnings up 105% to $5,352 million
• Cash earnings per share up 102% to 146 cents
• Net interest margin (NIM) down 4 basis points to 2.04%
• Return on equity (ROE) up 372 basis points to 7.6%
• CET1 capital ratio up 119 basis points to 12.32%
• Fully franked final dividend of 60 cents per share
• $3.5 billion off-market share buyback

What were the drivers of this result?

Westpac’s Consumer business performed positively in FY 2021, reporting a 12% increase in cash earnings to $3,081 million. This was driven largely by an impairment benefit of $125 million compared to a charge of $1,015 million in FY 2020. In addition, mortgages increased $19.1 billion or 5% over the year but margins decreased 3bps driven by competitive pricing to attract and retain customers, portfolio mix effects, and a decline in personal lending.

The Business segment delivered a 144% increase in cash earnings to $1,789 million. This was also due largely to an impairment benefit of $484 million, compared to an impairment charge of $1,371 million in FY 2020. Also supporting its result was a $268 million turnaround in notable items. Excluding notable items, net interest income was down $416 million from an 11bp decrease in margins and a 5% decrease in lending.

The Westpac Institutional Bank business was a drag on the company’s result, recording a loss of $670 million for FY 2021 compared to a profit of $332 million in FY 2020. Notable items were $991 million (net of tax) and related to the write-down of assets, mostly intangible assets, following an annual impairment test. Excluding this, cash earnings were down $11 million year on year at $321 million.

The Westpac New Zealand business was on form and recorded a 56% increase in cash earnings to NZ$1,013 million. This was primarily driven by a NZ$404 million turnaround in impairment charges. In addition, net interest income benefitted from a 3 basis point increase in margins and lending growth of 5% driven by NZ$5.7 billion of mortgage growth.

Finally, the Specialist Businesses segment return to profit with cash earnings of $193 million. This compares to a loss of $506 million in FY 2020. Management advised that this reflects lower notable items ($382 million net of tax) and an impairment benefit of $66 million compared to an impairment charge of $255 million in FY 2020.

Management commentary

Westpac’s CEO, Peter King, was pleased with the bank’s performance during another challenging year

He said: “2021 has been another challenging year, with a focus on continuing to support customers and employees through the pandemic, while implementing our Fix, Simplify and Perform strategic priorities.”

“Cash earnings rose, the balance sheet remains strong, and I am pleased with the progress we are making to transform Westpac into a simpler, stronger bank. Credit quality has remained remarkably good with stressed exposures continuing to decline off last year’s peak, while mortgage 90+ day delinquencies were also significantly lower.”

“A turnaround in impairment charges and lower notable items were the main drivers of our improved earnings, while we also restored growth in mortgages and have begun to see better momentum in our institutional and business portfolios. While notable items were lower, they remain elevated as we continue to work on fixing our issues and simplifying our business,” he added.

Share buyback

Potentially giving the Westpac share price a boost today is news that it plans to undertake an off-market buyback of up to $3.5 billion of shares.

Westpac Chairman, John McFarlane, commented: “Our improved operating performance and positive progress on our strategic priorities, including the completion of a number of divestments, have strengthened capital and allowed us to announce this Buy-Back. The Board carefully evaluated several options and believes this is the most value-enhancing option to distribute part of the Group’s capital and franking credits.”

The share buyback will be conducted by an off-market tender process which will open on 17 November and close on 17 December.

Shareholders will be able to offer to sell their shares at specified discounts to the market price of between 8% to 14% inclusive (at 1% intervals) and/or as a final price application. The latter is where you simply elect to receive the buyback price determined through the tender process.

Westpac notes that the capital component will be $11.34 per share, subject to ATO approval. Whereas the dividend component will be the buyback price less the capital component.

Outlook

Westpac’s CEO appears cautiously optimistic on the future, noting that he is confident the Australian economy will rebound over the next 12 months.

He said: “The recent lockdowns in NSW, Victoria and the ACT have been difficult for many businesses, and while uncertainty in the outlook remains, I am confident most industries will begin to recover as Australia’s two biggest states re-open. Consumer spending will likely increase significantly as states re-open and pent-up demand is released, particularly supported by consumer optimism and sizeable savings. We expect the Australian economy to expand by 7.4 per cent in 2022, with credit growth expanding 6.8 per cent. Demand for housing is likely to remain elevated but home price increases should moderate to 8 per cent next year.”

“Next year we expect to reduce our cost base as we head towards our $8 billion cost target from completion of programs under our Fix priority and realise the benefits from divestments. We have made considerable progress in improving our mortgage and business banking performance, driven by streamlining of lending processes to create a better customer experience. This sets us up to maintain momentum in the year ahead,” he added.

“For our business, loan growth is expected to be sound as the economy rebounds, although net interest margins will remain under pressure from low interest rates and competition. We are also committed to resolving a number of outstanding regulatory issues where our actions were not good enough. We are making progress in strengthening risk management, growing our core franchise, and simplifying the bank, which provides a strong platform to deliver a better service to customers, as well as returns for shareholders,” Mr King concluded.

The Westpac share price is up 31% year to date.

The post Westpac (ASX:WBC) share price on watch amid earnings jump and $3.5bn buyback appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
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Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. 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.

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It’s finally happening.

After much scrambling this year, a cryptocurrency-themed exchange-traded fund (ETF) will list on the ASX on Thursday.

While several vendors are understood to be working on the concept, the first to market will be BetaShares Crypto Innovators ETF (ASX: CRYP).

The Motley Fool has confirmed that shares for the fund will be publicly tradable on Thursday.

Mainstream acceptance has taken off this year

It was only in January that an expert declared it “unlikely” that a cryptocurrency ETF would debut this year on the stuffy old ASX.

“Many nations will look to the [US Securities and Exchange Commission] for leadership and it has a strong incentive not to rock the boat right now,” Kraken managing director Jonathon Miller said at the time.

“We will get there in the end, but it will be the growing understanding of cryptocurrency amongst progressive institutional investors that will make it happen.”

But industry developments have zoomed ahead at warp speed since, especially in the past month or so.

One massive milestone a couple of weeks ago was the listing of US ETF ProShares Bitcoin Strategy ETF (NYSE: BITO).

That fund tracks Bitcoin (CRYPTO: BTC) futures contracts and became the second-most traded ETF on its debut day.

Such a fund traded on the NYSE had as much symbolic significance as financial.

It represented yet another step in ‘mainstream’ acceptance of cryptocurrencies.

Closer to home, the Australian Securities and Investments Commission (ASIC) on Friday released its guidance on cryptocurrency-related investment products.

BetaShares chief Alex Vynokur welcomed the nod from the corporate watchdog for Australians seeking cryptocurrency exposure but afraid of trading on “unregulated exchanges”.

“ASIC has taken a significant step in providing a clear path for established cryptocurrencies such as bitcoin and ether to be made available to Australian investors via a familiar ETF structure,” he said.

“In many ways, the inherent benefits of a regulated ETF — convenience, transparency and cost-effectiveness — are additive for many investors seeking exposure to cryptocurrencies.”

What does the BetaShares CRYP ETF invest in?

The new BetaShares fund, like the ProShares one in the US, will not directly plough its money into cryptocurrencies.

Instead, it will “aim to track” the Bitwise Crypto Industry Innovators 30 Index before fees and expenses.

“CRYP’s index is designed to capture the full breadth of the crypto ecosystem by providing exposure to pure-play crypto companies, those whose balance sheets are held at least 75% in crypto-assets, and diversified companies with crypto-focused business lines,” states the BetaShares website.

According to Bitwise, the top 3 holdings in the index as of October 28 were:

• Galaxy Digital Holdings Ltd (TSE: GLXY): 12.95%
• Coinbase Global Inc (NASDAQ: COIN): 11.15%
• MicroStrategy Incorporated (NASDAQ: MSTR): 9.79%

The post ASX’s first cryptocurrency ETF is listing Thursday appeared first on The Motley Fool Australia.

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• Will an Ethereum ETF follow in Bitcoin’s footsteps?
• How this ‘systemic risk’ could take down Bitcoin: experts
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Motley Fool contributor Tony Yoo owns shares of Bitcoin and Coinbase Global, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended MicroStrategy. 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.

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With 2021 galloping ever closer to the finish line, we asked our Foolish contributors to compile a list of some of the ASX shares experts are picking as front runners in November.

Bernd Struben: Aurizon Holdings Ltd (ASX: AZJ)

Aurizon Holdings is Australia’s largest rail-based transport company. It provides integrated logistics services for numerous miners and agricultural companies and holds a near-monopoly position in Queensland. The company recently acquired One Rail Australia for $2.35 billion.

The Aurizon share price has seen some big swings over 2021 and is currently down by almost 13% year to date. That leaves it trading at a price-to-earnings (P/E) ratio of roughly 10.5. It also gives it a trailing dividend yield of around 8.4%, 70% franked.

Aurizon is listed on the S&P/ASX 200 Index (ASX: XJO), with a market capitalisation of approximately $6.3 billion. The Aurizon share price closed Friday’s session 1.75% lower at $3.37.

Motley Fool contributor Bernd Struben does not own shares of Aurizon Holdings Ltd.

Mitchell Lawler: Nanosonics Ltd (ASX: NAN)

While the Nanosonics share price has largely gone nowhere for the better part of two years, the company’s operating conditions could be rounding a corner as vaccination rates reach reopening levels.

The infection prevention company’s flagship product is the trophon®2, an automated disinfection device for ultrasound probes. Nanosonics derives a large portion of revenue from the sale of consumables and services for the device.

Due to the widespread suspension of elective surgeries caused by COVID-19 over the past 18 months, there has been a significant reduction in the need for these consumables and services. Company shareholders will no doubt be hoping that the recent easing of restrictions will result in an increase in demand.

Broker Morgans has an add rating on Nanosonics shares with a price target of $6.97. Based on the Nanosonics share price of $5.92 at Friday’s close, this suggests an upside of more than 17%.

Motley Fool contributor Mitchell Lawler does not own shares of Nanosonics Ltd.

Sebastian Bowen: Australian Ethical Investment Limited (ASX: AEF)

Australian Ethical Investment is a rapidly-growing fund manager with a total portfolio worth more than $6 billion. Its products include managed funds, pensions and superannuation.

Just last month, the company reported the largest fund inflows in its history, with no signs of slowing down. The last few years have seen more and more investors seeking to put their money where their mouths (and ethics) are, and this trend appears to show no sign of abating anytime soon.

As long as ethical/ESG investing remains a concern for investors, this company appears well placed with a healthy tailwind. It also pays a small, but growing, dividend. The Australian Ethical share price closed 2.55% on Friday at $13.69.

Motley Fool contributor Sebastian Bowen does not own shares of Australian Ethical Investment Limited.

James Mickleboro: CSL Limited (ASX: CSL)

This biotherapeutics giant’s shares could be a top option for investors in November. Although COVID-19 headwinds are expected to weigh on its profits in FY22, the company’s longer-term outlook arguably remains as bright as ever.

This is due to strong demand for its life-saving therapies and vaccines, easing plasma collection headwinds, and its lucrative product pipeline. The latter contains a number of exciting products with the potential to generate billions of dollars in sales over the long term.

The team at Morgans are positive on CSL. The broker currently has an add rating and a $324.40 price target on its shares. The CSL share price closed 0.22% higher on Friday at $300.49.

Motley Fool contributor James Mickleboro does not own shares of CSL Limited.

Tristan Harrison: Adore Beauty Group Ltd (ASX: ABY)

Adore Beauty is a leading online-only beauty retailer that sells thousands of products across hundreds of brands.

Broker Morgan Stanley currently rates the company’s shares as a buy, with a price target of $6. The broker expects continuing higher levels of growth over the rest of FY22, even as lockdowns come to an end.

FY21 saw Adore Beauty’s revenue rise 48% to $179.3 million and its gross profit margin increase 1.2 percentage points to 33.1% — indicating growing profitability. The FY21 second quarter showed revenue growth of 25% to $63.8 million. The company says it continues to benefit from the ongoing shift to online sales.

The Adore Beauty share price closed Friday’s session 1.95% higher at $4.70.

Motley Fool contributor Tristan Harrison does not own shares of Adore Beauty Group Ltd.

Brendon Lau: Australia and New Zealand Banking Group Ltd (ASX: ANZ)

The ANZ Bank share price could be well-placed to outperform following the company’s better than expected full-year results.

Goldman Sachs noted that FY21 second-half cash earnings were 11% ahead of its expectations and the share price is trading at more than one standard deviation cheaper than the sector. Macquarie also believes the ANZ Bank share price is cheap as it’s trading around 11% to 34% below its peers. Both brokers rate the stock a buy.

The ANZ share price closed Friday 1.61% lower at $28.14.

Motley Fool contributor Brendon Lau owns shares of Australia and New Zealand Banking Group Ltd.

The post Top ASX shares to buy in November 2021 appeared first on The Motley Fool Australia.

More reading

• Brokers name 2 ASX 200 dividend shares to buy
• 2 leading ASX e-commerce shares that could be buys in November 2021
• The ANZ share price is up 24% so far in 2021. Here’s why
• Top brokers name 3 ASX shares to buy next week
• 3 explosive ASX tech shares to buy in November

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Australian Ethical Investment Ltd., CSL Ltd., and Nanosonics Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Nanosonics Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited, Aurizon Holdings Limited, and Australian Ethical Investment Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Are you looking for some dividend shares to buy in November?

If you are, then you might want to look at the ones listed below. Here’s why these ASX 200 dividend shares could be in the buy zone:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

If you don’t already have exposure to the banking sector, then it may be worth considering ANZ.

The banking giant has recently released its full year results and outperformed the market’s expectations. For the 12 months ended 30 September, the bank reported a 72% jump in statutory profit after tax to $6,162 million and a 65% increase in cash earnings from continuing operations to $6,198 million.

This strong profit growth was underpinned by a significant reduction in provisions compared to the prior corresponding period, tightly managed expenses, and profit growth in Australia Retail and Commercial.

The team at Morgans were pleased with the result and remain positive on its outlook. The broker has an add rating and $31.00 price target on the company’s shares. In addition, it is forecasting a 147 cents per share dividend in FY 2022 and a 164 cents per share dividend in FY 2023.

Based on the current ANZ share price of $28.14, this will mean yields of 5.2% and 5.8%, respectively, for investors.

DEXUS Property Group (ASX: DXS)

Another ASX 200 dividend share to look at is this Australian real estate company. DEXUS has a focus on owning, managing, and developing office, industrial and retail properties.

The company has recently added to its portfolio with the acquisition of $900 million of industrial assets. This includes a logistics facility leased to Australia Post and a majority stake in Jandakot airport.

Analysts at Macquarie were pleased with the acquisitions. In response, the broker retained its outperform rating and lifted its price target on the company’s shares to $11.90.

As for dividends, Macquarie is forecasting dividends per share of 53.7 cents in FY 2022 and 58.1 cents in FY 2023. Based on the current Dexus share price of $10.87, this will mean yields of 4.9% and 5.3%, respectively.

The post Brokers name 2 ASX 200 dividend shares to buy appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in November 2021
• The ANZ share price is up 24% so far in 2021. Here’s why
• Top brokers name 3 ASX shares to buy next week
• Leading broker says ANZ (ASX:ANZ) share price is a buy
• 5 things to watch on the ASX 200 on Friday

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 Bruce Jackson.

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