Market Murmurs: WOR, SHL, APA
The local earnings season rolled along Wednesday in a slightly happier environment for all concerned – here’s what Worley Group, Sonic Healthcare and APA Group had to say.
Read MoreTag: APA
Trading Tidbits: WPL, AST, APA, NCK, HUO, SIQ
A busy news day for the ASX on Monday, with Woodside, AusNet, APA, Nick Scali, Huon Aquaculture and Smartgroup all making key announcements to the market. Here are the details.
Read MoreAPA Comes Over the Top for AusNet
Infrastructure group APA has produced a rival, higher offer for utility AusNet valuing it at $10 billion, a day after the Canadian/US group Brookfield announced its $9.6 billion offer.
Read MoreAPA – UBS rates the stock as Buy
UBS reduces EBITDA estimates by -4-5%, moderating assumptions amid higher corporate costs. Buy rating unchanged. Target is reduced to $10.50 from $11.20.
Read MoreAPA Group Takes Massive Hit on Orbost
APA Group has reported a 99 per cent drop in statutory profit in the year to June thanks to the $250 million write-down at the Orbost gas plant in Victoria, as well as other charges.
Read MoreAPA – Morgans rates the stock as Add
Add rating. The target price is decreased to $10.53 from $10.59.
Read MoreAPA – Macquarie rates the stock as Outperform
Outperform maintained. Target is reduced to $10.40 from $10.50.
Read MoreAPA – Macquarie rates the stock as Outperform
Macquarie assesses any potential sale of Epuron would potentially be an attractive alternative to Tilt, to step change APA Group’s renewable strategy. The Outperform rating and $10.17 target are unchanged.
Read MoreAPA Talks Up Prospects Despite Loss
APA Group shares fell yesterday after revealing an $11.7 million first-half loss thanks to a $250 million non-cash impairment against the value of its Orbost gas plant in Victoria.
Read MoreAPA – Credit Suisse rates the stock as Neutral
APA Group’s FY19 result met consensus and Credit Suisse forecasts and hit the top end of guidance. FY20 guidance missed the broker because of delayed project revenue and higher corporate costs.
Read MoreAPA Rewards Shareholders After Failed CKI Takeover
Security holders in gas pipeline company APA reaped the benefits of the Federal government blocking a rich Hong Kong takeover offer last year with the company revealing a sharp rise in earnings for the six months to December.
Read MoreACCC Cleared More Hurdles Await APA Takeover
While the ACCC, the competition watchdog, has approved Hong Kong-based utility firm CKI’s $13 billion takeover bid for gas pipeline company APA is the offer still has two significant hurdles to overcome.
Read MoreCanberra Hurdles Ahead As APA Soars On CKI Bid
Amid all the talk of foreign influence in Australia (read Chinese for foreign) a multi-billion dollar bid for the country’s biggest pipeline infrastructure group will yet again test the bona fides of the Turnbull government (and the ALP) on the question of investment by Chinese related companies in sensitive areas.
Read MoreAPA Buys Diamantina Power Station
Australia’s major gas pipeline owner APA Group has edged further into an integrated structure by paying $151 million to buy AGL Energy out of their jointly owned Diamantina power plant at Mount Is in northwestern Queensland.
Read MoreAPA’s $6 Billion Pipeline Deal
APA Group (APA) is asking shareholders and the market for a massive $A1.839 billion via a discounted renounceable rights issue to help fund the $US5 billion ($A6 billion) purchase of the recently built pipeline in BG Group’s liquefied natural gas project in Queensland.
Read MoreDeals: Rationalisation In Pipelines?
According to the market, APA Group’s $1.06 billion takeover offer for fellow pipeliner, Hastings Diversified Utilities Fund (HDF), is over before the shouting starts.
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