Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Thoughts on APA please? A positive initial reaction to results last week followed by a progressive decline to multi-year lows. Thanks, Bernie Is it time to bite the bullet and sell APA? Share price continues to decline and with my limited knowledge of charts, they seem to show a continuing downtrend or am I missing something. Thanks Geoff.
Hi Guys,
There are a few stocks that are reacting worse than we would have expected following their recent report with APA front and centre. They’re FY24 and forward FY25 guidance were inline with consensus but the stocks slipped over 10% from last weeks high, putting the stock on a yield of 7.9% (unfranked) over the coming 12 months assuming there’s no hidden surprises.
APA’s target price was downgraded by a couple of brokers after their report but Jarden, Jefferies and Macquarie both still have ~$8.40.
However, The Australian Energy Regulator’s Form of Regulation Review of the South West QLD Pipeline (SWQP) could be a material swing factor for APA. We expect a draft decision this month and a final decision in Nov-24 and as we know markets hate uncertainty, especially on the regulator front.
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