The Motley Fool

Transurban share price edges lower on Q1 update

The Transurban Group (ASX: TCL) share price has edged lower this morning following the release of its first quarter update.

In morning trade the toll road giant’s shares are down 0.5% to $14.93.

How did Transurban perform in the first quarter?

According to the release, during the September quarter the company’s Average Daily Traffic (ADT) increased by 1.8%. This was driven by growth across all markets.

Management believes this quarter demonstrated the benefits of its development activities. An additional 1 million trips were made in Queensland following the completion of three major projects in the twelve months to August 2019.

How did its roads perform?

Transurban reported that its Sydney ADT increased by 2.1% to 838,000 trips during the quarter.  Average workday traffic increased by 1.5% and average weekend/public holiday traffic rise by 2.8%.

This was driven by a 2.8% increase in car traffic, which offset a 4.5% decline in large vehicle traffic.

Melbourne ADT increased by 0.6% to 860,000 transactions. Although average workday traffic decreased by 0.2%, this was offset by a 2% lift in average weekend/public holiday traffic.

In this market it was large vehicle traffic providing the growth. It grew 3.8% over the quarter, compared to a 0.1% decline by car traffic.

In Brisbane ADT increased by 2.7% to 425,000 trips. This was the result of a 1.7% lift in average workday traffic and a 4.2% jump in average weekend/public holiday. Car traffic increased by 2.7% and large vehicle traffic increased by 2.8% for the quarter.

Over in North America ADT increased by 4.5% to 156,000 trips. This was despite increases in toll prices over the quarter. Management advised that the average dynamic toll price for the quarter increased by 11.5% to US$9.37 on the 95 Express Lanes and by 3% to US$5.52 on the 495 Express Lanes.

Also on the move today are the shares of Orora Ltd (ASX: ORA) after a major asset sale and Harvey Norman Holdings Limited (ASX: HVN) after trading ex-dividend.

Do you like shares like Transurban? Then you won't want to miss out on these outstanding dividend shares.

NEW! Top 3 Dividend Bets for 2020

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.

Hint: These are 3 shares you’ve probably never come across before.

They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”

We think these 3 shares offer solid growth prospects over the next 12 months. Each of these three companies boasts fully franked yields and could be a great fit for your diversified portfolio. You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."

Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!

The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free copy right now!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Transurban Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.