24/11/2023 09:08

Transurban Group (TCL) $12.85

We discussed TCL at length earlier in the month in a Portfolio Positioning report, the conclusion being that TCL will look appealing when bond yields do turn meaningfully lower. While it’s not our first pick at this stage, this may change depending on respective prices at the time.

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15/11/2023 09:13

Transurban Group (TCL) $12.63

Toll road operator TCL has corrected -24% from its April high, it probably feels worse to many shareholders, but it's only down -2.1% year-to-date, and it paid a 31.5c dividend in June. The company will deliver its next earnings report in mid-December, with a subsequent 31c dividend anticipated just after Christmas. They delivered a slightly disappointing FY23 result and outlook for FY24, contributing to the stock's pullback over recent months.

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24/08/2023 09:40

Transurban Group (TCL) $13.11

Toll road operator TCL is a stock we touch on often but it sits in many investors portfolios for its defensive nature i.e.  revenue will remain solid while we all keep driving. The company’s FY23 results and outlook for FY24 were mildly disappointing compared with some analyst expectations.

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16/08/2023 16:50

Transurban (TCL) $13.86

TCL -0.72%: The toll road operator reported FY23 results that were a touch light on. Proportional EBITDA of $2.448m was ~2% below consensus while the dividend of 58cps had already been announced.

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11/07/2023 09:12

Transurban Group (TCL) $13.69

TCL has been performing well on the corporate level but it’s the stocks return compared to the risk-free opportunities elsewhere that are weighing on the shares i.e. TCL is forecast to yield 4.27% over the next 12 months, but the Australian 10-years are yielding +4.29% which in our opinion doesn’t portray a compelling reason to buy TCL around $13.70.

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01/06/2023 09:12

Transurban Group (TCL) $14.84

A month ago the toll road operator TCL upgraded guidance for the current FY, the company now expects distributions for FY23 of 58cps, up 1c from prior guidance but up 41.5% from FY22. The upgrade translates to an expected final dividend of 31.5cps with management saying traffic numbers continue to show strong momentum.

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01/05/2023 16:47

Transurban (TCL) $14.92

TCL -0.47%: the toll road operator upgraded guidance for the current FY today, though it failed to carry shares higher. The company now expects distributions for FY23 of 58cps, up 1c from prior guidance but up 41.5% from FY22. The upgrade translates to an expected final dividend of 31.5cps with management saying traffic numbers continue to show strong momentum. Earnings will also be supported by better-than-expected financing outcomes.

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12/04/2023 09:20

Transurban (TCL) $14.60

Yesterday, we took profits in toll road operator Transurban (TCL) at $14.68 having bought the stock back in April 2020 at $11.82. This has been a 3-year hold for a return of ~33% inclusive of dividends. While we like the company and believe that critical infrastructure has a place in portfolios, particularly those with a more defensive/income focus, valuation & opportunities elsewhere prompted the sale.

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11/04/2023 10:09

Active Income Portfolio – Amendments

We are tweaking the Income Portfolio.

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07/03/2023 09:28

Transurban Group (TCL) $13.99

TCL would be appealing to longer-term investors such as super funds who have been active in the M&A space over recent years, the company’s assets will continue to deliver while Australians drive cars plus its tolls are linked to inflation i.e. the gorilla in the room at present.

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