At the time of writing, the index is up slightly by less than 0.1%, but it's still down around 1.5% year to date.

It's not all doom and gloom across the index, though. Some ASX 200 shares have significantly outpaced the index so far this year and are now trading at 52-week highs.

Ampol Ltd (ASX: ALD)

Ampol shares are trading in the green again at the time of writing. The shares are up slightly by around 0.1% to a two-year high of $36.58.

For the year to date, Ampol shares have increased around 14%, driven higher by conflict in the Middle East and ongoing concerns around global oil supply.

Ampol has also posted a few recent updates that have gathered investor attention. Earlier this month, Ampol received the green light, with conditions, from the Australian Competition and Consumer Commission (ACCC) for a proposed acquisition of fuel and convenience store operator EG Australia. 

The company previously confirmed a 10% increase in refinery production, higher refiner margins, and increased production in its Q1 FY26 trading update. 

Market Index data shows that all brokers are bullish on the price run for Ampol shares. All brokers rate the stock as a strong buy, and they tip around a 4% upside to an average target price of $37.84, at the time of writing.

Aurizon Holdings Ltd (ASX: AZJ)

Aurizon shares are up around another 0.2%, to a six-year high of $4.34 a piece.

For the year to date, the shares are nearly 21% higher.

The rail freight operator, which hauls bulk commodities, including coal, iron ore, and agricultural products, has enjoyed a strong rally this year after it posted a stronger-than-expected half-year FY26 earnings result and announced an upsized dividend payment to shareholders in mid-February.

Aurizon reaffirmed its FY26 guidance in a business update last month, despite weather and fuel-cost headwinds. 

But after a share price surge earlier this year, it looks like brokers now consider Aurizon shares to be trading at, or even above, fair value.

TradingView data shows that the majority of analysts (eight out of 10) have a hold rating on the freight operator's shares. They forecast an average target price of $3.93, which implies a potential downside of around 9% at the time of writing.

Transurban Group (ASX: TCL)

Transurban shares have been relatively stable throughout the highs and lows of a volatile start to the year. The toll road operator's shares are trading in the green again on Wednesday, up around 0.3% to a six-year high of $15.20 a piece.

The increase is small, but it means the shares are now around 7% higher year to date and 6% higher than 12 months ago. The share price has gone up and down throughout this period, swinging mildly anywhere between $13.37 and $15.20 so far in 2026. 

Transurban has benefited from a flight to defensive stocks during sharemarket volatility. Most of its toll roads are on an annual contract, which means Transurban has been able to continually increase its toll prices in line with rising inflation.

Clearly, investors are leaning towards Transbuban shares while defensive shares are back in focus, but brokers aren't as optimistic.

According to Market Index data, all brokers have a hold rating on the stock. However, after the latest rally, the $13.69 target price implies around a 10% downside at the time of writing.

The post Transurban, Aurizon, Ampol shares hit fresh multi-year highs: Buy, sell or hold today? appeared first on The Motley Fool Australia.

Amongst those shares, notable names included: 

• Ampol Ltd (ASX: ALD) rose 4%
• Aurizon Holdings Ltd (ASX: AZJ) hit a multi-year high
• New Hope Corporation Ltd (ASX: NHC) climbed 2%. 

There were various catalysts for the continued success of these ASX shares. Here's what investors were reacting to and what experts are saying moving forward. 

Ampol hits new 52-week high thanks to billion dollar deal 

It's been a great week for Ampol shareholders this week, as Australia's largest listed petroleum refiner and distributor has risen roughly 8% in the last two days. 

Investors have been gobbling up the company's shares after it announced that the Australian Competition and Consumer Commission (ACCC) has approved Ampol's acquisition of fuel and convenience retailer EG Australia.

The company said the approval is conditional on Ampol's divestment of 41 sites. 

Ampol said it has entered into a binding agreement to sell the 41 sites to Metro Petroleum.

Citing its strong balance sheet, Ampol said it will cash settle the scrip component of the purchase price. The seller of EG Australia will receive a net cash consideration of approximately $1.115 billion.

Its share price is now up 42% over the last 12 months. 

Much of this has come on the back of conflict in the Middle East and concerns about global oil supply earlier this year.

However it now appears the ASX stock is approaching full valuation. 

9 analyst forecasts via TradingView have a one year average price target of $37.89, which is just 4% higher than current levels. 

Aurizon hits multi-year high

Aurizon is Australia's largest rail freight operator hauling bulk commodities, largely coal, as well as iron ore and agricultural products.

Its share price climbed another 1% yesterday, taking it to new multi-year highs. 

Aurizon shares have now climbed over 20% year to date.

This has largely come on the back of positive earnings results and a subsequent dividend boost. 

Despite this, experts are largely looking at the company as a hold after hitting fresh 52-week highs. 

The average price target sits roughly 9% below current levels. 

New hope keeps rising

New Hope is an Australian thermal coal miner.

Like many ASX energy shares, it has enjoyed big returns in 2026. 

For the to date, its share price has climbed an impressive 52%. 

Yesterday, it hit fresh 52-week highs of $6.17 per share. 

However, it also appears to have climbed past fair value. 

Bell Potter recently placed a hold rating and $5.00 price target on its shares.

This indicates a downside of 19%. 

The post Can these ASX shares hitting 52-week highs keep rising? appeared first on The Motley Fool Australia.

Chalmers will reveal the details of Labor's upcoming 2026-27 federal budget this evening.

Among the bigger shakeups ASX investors are facing is the expected axing of the 50% capital gains tax (CGT) discount currently applied to investments that are sold after being held for more than a year. Investors will instead get credit in line with inflation.

This could have a material impact on investor interest in ASX 200 dividend shares like NAB and Stockland, as franking credits (often applied to dividends) are not expected to be impacted.

Instead, investors will face a bigger hit when they sell ASX growth stocks that have posted sizeable share price gains outpacing inflation.

Changing the investing equation

Commenting on the potential CGT shakeup that looks to favour ASX 200 dividend shares over high-growth tech and medical stocks, Jacki Neumann, head of capital markets at Sharesies, said:

Reform of the 50% CGT discount changes the equation for growth investors in particular. While a move toward an indexation framework aims for a more equitable environment, it creates a threshold where the tax benefits of indexation diminish once an asset's growth significantly outpaces inflation.

This shift invites a recalibration of risk, where investors will need to weigh their appetite for high-growth assets against the more predictable returns of income-generating investments.

Advantage ASX 200 dividend shares

UBS equities strategist Richard Schellbach also expects the proposed CGT changes will favour the likes of NAB, Stockland, and other quality ASX 200 dividend shares in the banking and real estate sectors over high-growth stocks.

"Usually, budgets have little impact on the equity story. However, these speculated tax changes could matter in terms of altering incentives and shifting flows," Schellbach said (quoted by The Australian Financial Review).

Noting that ASX stocks with strong capital gain potential are likely to become less attractive following the CGT changes, Schellbach pointed to both Stockland and NAB as potential beneficiaries.

NAB shares trade on a fully-franked dividend yield of 4.6%, while Stockland shares trade on an unfranked dividend yield of 6.8%.

As for other ASX 200 dividend shares that could gain from the new federal budget, Schellbach indicated Bank of Queensland Ltd (ASX: BOQ), rail-based transport company Aurizon Holdings Ltd (ASX: AZJ), energy infrastructure company APA Group (ASX: APA), and shopping mall owner Vicinity Centres (ASX: VCX).

The post How Chalmers' budget tips the scales for ASX 200 dividend shares like Stockland and NAB appeared first on The Motley Fool Australia.

To narrow things down, let's see what analysts at Ord Minnett are saying about the three popular options named below.

Here's what you need to know:

ARB Corporation Ltd (ASX: ARB)

Ord Minnett remains positive on this 4×4 auto parts manufacturer despite weak new vehicle sales.

It has a buy rating and $31.00 price target on its shares. The broker is focusing more on the longer-term outlook, which it believes is positive. It said:

New vehicle sales have been impacted by inconsistent supply from manufacturers throughout the March quarter. Elevated fuel prices in March may adversely impact demand for ARB's Australian aftermarket operations. Longer term, the outlook for ARB is positive, with robust demand for its products, a healthy order book, and new vehicles and products being released globally. Earnings growth should be driven by new and refurbished stores, offshore expansion, and strategic partnerships with original equipment manufacturers (OEM). We maintain a Buy rating on ARB.

Aurizon Holdings Ltd (ASX: AZJ)

The broker is less positive on this rail freight operator. It has put a hold rating and $3.50 price target on its shares.

While the broker likes the company, it feels that its shares are fully valued now. Ord Minnett said:

Post the result, we raised our EPS estimates by 2.7%, 3.5% and 0.9% for FY26, FY27 and FY28, respectively. These earnings upgrades led us to increase our target price on Aurizon to $3.50 from $3.10, although we maintained our Hold recommendation on valuation grounds.

Goodman Group (ASX: GMG)

Another ASX share that Ord Minnett has been looking at is Goodman Group.

In response to a major data centre deal with DataBank in the US, the broker retained its hold rating and $29.15 price target on Goodman's shares. It said:

The deal is a win for Goodman, allowing to realise circa $235 million of development earnings before interest tax (EBIT) in the second half of FY26, and introduces DataBank's valuable intellectual property into its data-centre business.

We note Goodman and DataBank are looking at developments in other capacity-constrained (typically because of power supply issues or planning restrictions) markets in the US, with the model based on combining the Australian company's development pipeline and American group's operational capability and customer base. Ord Minnett made no changes to its earnings estimates post the deal, but highlights that Goodman will have to make more of these type of deals to meet market expectations for FY26 earnings. We maintain our target price of $29.15 and a Hold recommendation on Goodman.

The post Buy, hold, sell: ARB, Aurizon, and Goodman shares appeared first on The Motley Fool Australia.

At the time of writing, the ASX 200 share is up 2.5% to $4.28.

What is lifting this ASX 200 stock?

This morning, the rail freight operator released a business update ahead of its presentation at the Macquarie Australia Conference.

Investors appear to be responding positively to Aurizon reaffirming its FY 2026 guidance despite some fuel cost timing pressures.

According to the release, Aurizon continues to expect group underlying EBITDA of $1.68 billion to $1.75 billion for FY 2026.

The company also reaffirmed its full year dividend guidance of 22 cents to 23 cents per share.

This appears to have reassured the market, particularly given ongoing volatility in fuel markets and recent weather-related disruptions.

Volume growth across key divisions

Aurizon also provided investors with a ten-month volume update to 30 April 2026.

Network volumes in the Central Queensland Coal Network reached 173.5 million tonnes, which is up 2.6% on the prior corresponding period.

Coal volumes increased 0.8% to 158.4 million tonnes. This is despite the impact of adverse weather on customer mine production in Central Queensland during the March quarter.

The strongest volume growth came from Bulk and containerised freight.

Bulk volumes rose 6.7% to 48.4 million tonnes, supported by higher grain volumes and the start of the BHP Group Ltd (ASX: BHP) Copper South Australia contract.

Containerised freight volumes increased 13.2% to 194,000 TEUs. This was driven by growth from new and existing customers.

Fuel cost impact manageable

Aurizon also addressed fuel supply and pricing pressures.

The ASX 200 share said its operations have continued without interruption, with its incident management team taking proactive steps in March to ensure ongoing diesel supply across its national network.

Aurizon noted that most of its fuel costs are recovered through customer contracts with monthly fuel adjustment mechanisms.

However, a small number of contracts, mainly in the Bulk business, use quarterly fuel adjustment mechanisms. Based on current pricing, this is expected to create a temporary negative EBITDA impact of approximately $10 million in FY 2026.

Importantly, Aurizon said this is a timing issue and the increased cost should be recovered in future quarterly adjustments if fuel prices reduce.

The ASX 200 share has kept its capital expenditure guidance unchanged. This includes non-growth capex expected to be between $580 million and $600 million and growth capex forecast at $100 million to $150 million.

The post Why are investors bidding this ASX 200 share higher today? appeared first on The Motley Fool Australia.

The company is Australia's largest rail freight operator. It hauls bulk commodities, largely coal, as well as iron ore and agricultural products.

The company owns one of the world's largest coal rail networks. The network links around 50 mines to three major ports in Queensland.

The rail network, comprising 2,670 kilometres of lines under a 99-year lease from the Queensland government, accounts for the majority of Aurizon's earnings.

In 2026, this ASX 200 stock has raced ahead of the broader market. 

Since January, it has risen just over 15%, compared to a flat return for the S&P/ASX 200 Index (ASX: XJO). 

At the time of writing on Wednesday afternoon, shares are trading at $4.14 each. 

What is Ord Minnett's latest view?

In a note out of Ord Minnett, the broker seemed impressed by the half-year results. 

Aurizon Holdings posted a first-half FY26 net profit around 10% higher than market expectations, driven by lower-than-forecast unit costs and higher-than-anticipated yields from its above-rail coal operations, and launched another share buyback valued at $100 million.

The broker said the key positive from the result was an increase in its dividend payout ratio to 90% (previously 80%). 

Ord Minnett said this is a level the company aims to maintain into the future. 

FY guidance updated

Ord Minnett also highlighted that Aurizon reiterated guidance for FY26 group operating earnings (EBITDA) of $1.68–$1.75 billion, versus market expectation near the midpoint at $1.71 billion, with EBITDA from its network, coal and bulk divisions all "expected to be higher than FY25".

Dividend guidance for FY26 was also upgraded to $0.22–$0.23 per share from $0.19–$0.20. 

We highlight that incorporating the new dividend guidance and the $250 million in share buybacks already launched in the current fiscal year shows Aurizon is offering a total distribution yield, i.e.dividends plus share buybacks, of circa 7–8% in FY26.

For FY27, incorporating Ord Minnett's EPS estimates, a 90% dividend payout ratio, and our forecast for another $250 million share buyback given Aurizon has sufficient balance sheet capacity, the total distribution yield would rise to around 9–10%.

Hold recommendation on valuation grounds

Based on this guidance, Ord Minnett raised its earnings per share estimates by 2.7%, 3.5% and 0.9% for FY26, FY27 and FY28, respectively. 

These earnings upgrades led us to increase our target price on Aurizon to $3.50 from $3.10, although we maintained our Hold recommendation on valuation grounds.

Despite the target price increase, this ASX 200 stock is currently trading at $4.14 per share, which is 15% above Ord Minnett's target. 

The post Is this ASX 200 stock a buy, hold or sell after rising 15% year to date? appeared first on The Motley Fool Australia.

Trump's declaration that the war with Iran would go on for another "two to three weeks" was enough to start the selling. By the time the markets closed up for the Easter break, the ASX 200 had slumped by a nasty 1.06%. That fall leaves the index at 8,579.5 points as we head into the long weekend.

This volatile session for Australian investors follows a far more optimistic morning up on the American markets (let's see what happens tomorrow over there).

The Dow Jones Industrial Average Index (DJX: .DJI) had a comfortable time of it, rising by 0.48%.

Meanwhile, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was even more enthusiastic, gaining 1.16%.

But let's return to the local markets now and check out how the various ASX sectors dealt with today's whipsawing trading conditions.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

In order to receive a dividend, you must own the ASX share before its ex-dividend date.

Here is a sample of the large number of ASX All Ords shares with ex-dividend dates next week.

ASX All Ords shares about to go ex-dividend

Which companies will we hear from today?

The big one today is the half-yearly report from supermarket network Coles Group Ltd (ASX: COL).

Woolworths shares ripped this week after the ASX All Ords consumer staples giant reported a 16% profit lift to $859 million for 1H FY26.

We'll also hear from TPG Telecom Ltd (ASX: TPG), Michael Hill International Ltd (ASX: MHJ), and Pexa Group Ltd (ASX: PXA).

The latest report from The Star Entertainment Group Ltd (ASX: SGR) will also be interesting, as investors seek further news on the turnaround plan for the beleaguered casino operator.

Yesterday, Star Entertainment shares bounced on news of a debt refinancing deal, including extra liquidity to fund the turnaround plan.

The post 35 ASX All Ords shares with ex-dividend dates next week appeared first on The Motley Fool Australia.

Transurban Group (ASX: TCL)

Transurban, while arguably not the most exciting stock, is a consistent one. It owns and operates major toll roads. It also holds long-term government contracts to finance and build major roads, which also cover toll operations. This cash flow and revenue predictability has seen it become popular amongst investors.

It stands to benefit from some solid structural tailwinds too. With major roads playing a critical role as metro populations expand, Transurban is well positioned to deliver.

On the flipside, road projects often face delays and cost blow-outs. For example, Transurban delivered Melbourne's long awaited West Gate Tunnel in 2025 at a cost of $10.2 billion against a plan for 2022 delivery at $5.5 billion, with Transurban covering $2 billion of the additional cost. That said, Transurban has a history of disciplined cash flow management that has enabled it to wear one-off costs like this.

Its most recent results demonstrate why it's worth considering. It delivered $2.02 billion in proportional total revenue (up 6%) and $343 million in statutory profit after tax. In addition, its dividend guidance for 2026 is $0.69 per share, up 6.2% on 2025, which should keep investors content.

Is Transurban a buy?

For me, it is. At current prices, Transurban isn't likely to skyrocket your portfolio. Some analysts are predicting a small upside right now, but nothing to get excited about. However, it is likely to keep delivering stable returns and measured growth for long-term investors.

Aurizon Holdings Ltd (ASX: AZJ)

Aurizon is a national rail-freight operator, hauling bulk commodities and freight for industries such as mining and manufacturing. It operates Australia's largest coal rail system, the 2,670km Central Queensland Coal Network. The network offers critical mine to port transportation to over 50 mines in the region.

Its significant footprint in the mining industry includes a partnership with BHP Copper SA to deliver an integrated rail, road, and port solution that will shift copper transport from road to rail along the Pimba to Port Adelaide corridor.

Aurizon delivered some stronger-than-expected results in HY26, including 16% growth in underlying net profit after tax and EBITDA growth across all its business units. Its bulk business saw the highest growth at 39%, largely driven by increased rail volumes and the first freight moved under the BHP Copper SA contract.

Where I'm caught on this one is valuation. With current share prices around the $4 mark and a price-to-earnings (P/E) ratio of circa 23, I think there is too much risk of downside. I'm also cautious about its heavy exposure to coal mining, while noting that it has begun to diversify in recent years.

Is Aurizon a buy?

Right now, it's a wait-and-watch story, in my opinion. I don't think it is delivering the returns to justify its present valuation. But I think it will keep delivering growth, so I'm adding it to the watchlist. If the share price falls, it could be a winner.

Virgin Australia Holdings Ltd (ASX: VGN)

Domestic and international carrier, Virgin Australia, returned to the ASX in June 2025, after delisting in 2020 amidst the COVID crisis. Its Q1 FY26 update reported domestic capacity uplift of 5% on the prior corresponding period. It also reaffirmed that revenue per available seat kilometre (RASK) should meet expected growth of 3% to 5% in HY26.

But there are potential pitfalls ahead. While Virgin Australia enjoys a duopoly on major domestic routes across Australia, it doesn't inoculate it from economic headwinds. Although Australians love to travel, as budgets continue to tighten, changes in discretionary spending could prove challenging. Additionally, the relatively thin margins in the airline industry leave it sensitive to operating cost changes, from fuel to labour.

As we await HY26 results on Friday, this one has me thinking. I'm uncomfortable with its more recent corporate history – multiple restructures, ownership changes, and strategic resets. And I am not sure even great results would be enough to convince me just yet.

Is Virgin Australia a buy?

For me, it's a not a buy right now. Some analysts have said they see upside at current prices, however, so I may be going against the grain on this one. But I think Virgin needs longer to show it has truly recovered from a challenging period.

The post Planes, trains and automobiles: Which of these ASX transport stocks has fuel in the tank? appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 4.5% to $8.90. Investors have been buying this infant formula company's shares following the release of its half-year results. A2 Milk delivered a strong first-half performance and upgraded its guidance for FY 2026. With respect to the latter, management now expects revenue growth in the mid double-digit percentage range (from low double-digits) compared to FY 2025 continuing operations. A2 Milk's managing director and CEO, David Bortolussi, said: "Our upgraded outlook means we are now on track to achieve our $2 billion medium term sales ambition in FY26, a full year ahead of plan. This is testament to the execution of our team and the strength of the a2 brand."

Aurizon Holdings Ltd (ASX: AZJ)

The Aurizon Holdings share price is up 6% to $3.81. This has been driven by the release of the rail freight operator's half-year results this morning. Aurizon reported a 16% increase in net profit after tax to $237 million. This allowed the company to increase its 90%-franked interim dividend by 36% to 12.5 cents per share. Aurizon's managing director and CEO, Andrew Harding, said: "Today's results underscore the strength of Aurizon's two largest business units, Network and Coal and the continued growth of Bulk and Containerised Freight."

JB Hi-Fi Ltd (ASX: JBH)

The JB Hi-Fi share price is up almost 7% to $81.81. The catalyst for this has been the release of the retail giant's half-year results. JB Hi-Fi revealed a 7.3% increase in total sales to $6.1 billion and a 7.1% lift in net profit after tax to $305.8 million. Management advised that its focus on value supported its performance. JB Hi-Fi's CEO, Nick Wells, said: "We are pleased to report record sales and strong earnings for HY26, as we built on the momentum of the previous year. In a retail environment where customers are seeking value, our brands continue to resonate strongly and our teams continue to execute to a high standard."

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is up 27% to $2.03. This follows news that the gold explorer has received and accepted a takeover offer from Genesis Minerals Ltd (ASX: GMD). Magnetic shareholders will receive $1.40 cash and 0.0873 new Genesis shares for every share they own. This implies a value of $2.00 per share and values Magnetic Resources at ~$639 million. Genesis executive chair, Raleigh Finlayson, said: "This transaction creates substantial value for both groups of shareholders, delivering genuine synergies while combining the right assets with the right people. Magnetic's Lady Julie Gold Project will add more than 2Moz at an attractive high grade to Genesis' Laverton inventory, further bolstering the mine life and production outlook."

The post Why A2 Milk, Aurizon, JB Hi-Fi, and Magnetic Resources shares are storming higher today appeared first on The Motley Fool Australia.

But does that mean the company's shares are a buy? We'll get to that later. Firstly to the result.

A solid set of numbers

The rail transport company reported EBITDA of $891 million, up 9% on the same period the previous year, with earnings driven by "higher volumes, a regulatory revenue uplift and disciplined cost control''.

The company also boosted its dividend payout ratio to 90% of underlying net profit, up from a range of 70% to 100% previously, and will pay an interim dividend of 12.5 cents per share, up from 9.2 cents.

The company also said it would extend its on-market share buyback by $100 million, making it now worth up to $250 million.

Managing Director Andrew Harding said it was a solid result.

Today's results underscore the strength of Aurizon's two largest business units, Network and Coal and the continued growth of Bulk and Containerised Freight. Revenue growth was driven by regulatory uplift and higher volumes, while disciplined cost control — including the successful execution of last year's $60 million cost‑out program — further strengthened our position. This strong performance has flowed through to increases in our net profit after tax, free cash flow and earnings per share. We are also making good progress executing against key strategic objectives.

On the outlook, the company maintained its full-year guidance for underlying EBITDA in the range of $1.68 to $1.75 billion, with the full-year dividend now expected to be 22 to 23 cents per share, up from a previous guidance of 19 to 20 cents per share.

The network division was expected to post increased earnings compared with FY25 due to an increase in regulatory revenue, while the coal division was also expected to increase earnings, driven by increased volumes and flat unit costs.

Analysts applaud a solid result

Jarden analysts said the result was a strong beat on core earnings per share, coming in 9% above expectations.  

They said the strength in the coal and bulk freight divisions was reassuring, while containerised freight appeared to still be a drag.

The Jarden team said, "Coal, Bulk and Network beats should drive share price strength''.

RBC Capital Markets analysts said the result was positive, with the interim dividend comfortably beating consensus estimates of 9.7/9.8 cents per share.

Aurizon shares were 5.2% higher in early trade on Monday at $3.77, after briefly trading as high as $3.92, which was a 12-month high.

Both analysts think Aurizon is fully priced at current levels, with Jarden having a price target of $3.45 on the shares and RBC a $3.40 target.

Aurizon was valued at $6.15 billion at the close of trade on Friday.

The post A bigger than expected dividend has Aurizon shares performing well, but are they fully-priced? appeared first on The Motley Fool Australia.

What did Aurizon Holdings report?

• Revenue up 4% to $2.1 billion
• EBITDA increased 9% to $891 million
• NPAT rose 16% to $237 million
• Earnings per share up 20% to 13.6 cents
• Interim dividend of 12.5 cps, 90% franked (36% increase)
• Free cashflow up 41% to $335 million

What else do investors need to know?

Aurizon attributed the result to higher volumes, a regulatory revenue uplift, and continued discipline on costs. The half saw solid gains across the Bulk, Coal, and Network business units, supporting the group's improved earnings.

The interim dividend payout ratio was lifted to 90% of Underlying NPAT, and Aurizon extended its on-market buy-back by $100 million, now totalling up to $250 million. The company also completed a review of its Network business, deciding to keep its integrated rail model rather than pursue a demerger or monetisation.

What did Aurizon Holdings management say?

Managing Director & CEO Andrew Harding said:

Today's results underscore the strength of Aurizon's two largest business units, Network and Coal and the continued growth of Bulk and Containerised Freight… Revenue growth was driven by regulatory uplift and higher volumes, while disciplined cost control — including the successful execution of last year's $60 million cost‑out program — further strengthened our position… We determined that retaining 100% ownership of Network remained the option that best delivers long-term value for our shareholders.

What's next for Aurizon Holdings?

Aurizon expects full-year underlying EBITDA in the range of $1,680 million to $1,750 million and has upgraded expected full-year dividends to 22-23 cents per share. The group is maintaining its focus on disciplined growth, cost control, and investment in both transformation and growth capex.

Management says they are progressing with the draft 10-year undertaking for the Central Queensland Coal Network, which, if approved, is expected to provide an average annual revenue uplift and long-term certainty for customers and shareholders.

Aurizon Holdings share price snapshot

Over the past 12 months, Aurizon shares have risen 13%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 4% over the same period.

View Original Announcement

The post Aurizon Holdings hikes dividend after stronger FY2026 half-year profit appeared first on The Motley Fool Australia.

But while term deposits may offer more than they did a few years ago, there are still ASX shares providing attractive forward yields, with the added benefit of potential capital growth.

Based on broker forecasts, the following four shares combined offer an average forward dividend yield of around 6%. Here's what analysts are saying about them:

APA Group (ASX: APA)

The first ASX share to consider is APA Group. It owns and operates a portfolio of gas pipelines, storage facilities, and energy infrastructure assets across Australia. These assets are typically backed by long-term contracts, providing visible cash flow and supporting reliable distributions.

Macquarie is positive on the company and currently has an outperform rating and $9.23 price target on its shares. As for income, the broker is forecasting a dividend yield of approximately 6.4% in FY 2026.

Aurizon Holdings Ltd (ASX: AZJ)

Another ASX share worth considering for dividends is Aurizon. It operates one of Australia's largest rail freight networks, transporting bulk commodities such as coal across key export corridors. While volumes can fluctuate, much of the company's revenue is underpinned by long-term take-or-pay contracts.

Macquarie is also positive on this one. The broker recently put an outperform rating on Aurizon's shares with a $3.77 price target.

With respect to dividends, the broker is expecting the company's shares to deliver a yield of around 5.4% in FY 2026.

Dexus Industria REIT (ASX: DXI)

For investors wanting property exposure, the Dexus Industria REIT could be worth a closer look according to analysts. It focuses on industrial assets, including warehouses and logistics facilities, which continue to benefit from structural trends such as ecommerce and supply chain optimisation.

Bell Potter is feeling positive about the company's outlook. It recently put a buy rating and $3.00 price target on the ASX share.

As for that all-important income, the broker is forecasting a dividend yield of approximately 6.6% in FY 2026, making it one of the higher-yielding names in this group.

Premier Investments Ltd (ASX: PMV)

The final ASX share to consider for income is Premier Investments. It is the owner of popular retail brands Smiggle and Peter Alexander, as well as a stake in Breville Group Ltd (ASX: BRG). These assets are consistently generating strong free cash flow, which is usually returned to shareholders in the form of dividends.

Macquarie is also positive on this one. It currently has an outperform rating and $16.20 price target on the shares.

As for income, the broker expects a fully franked dividend yield of approximately 5.8% in FY 2026.

The post 4 ASX shares to consider buying with an average dividend yield of 6% appeared first on The Motley Fool Australia.

What did Aurizon Holdings report?

• Lodgement of a ten-year Central Queensland Coal Network (CQCN) Access Undertaking, known as UT5+, to run from 1 July 2027 to 30 June 2037
• Revised agreement introduces a performance-linked Throughput Payment, incentivising efficient network operations
• New five-year rolling access agreements to improve customer rail capacity planning
• Revenue uplift for Aurizon Network relative to the existing UT5 methodology, with updated WACC parameters
• Enhanced revenue and inflation protection mechanisms, including an adjusted Take-or-Pay structure

What else do investors need to know?

The UT5+ access undertaking is the result of extensive negotiations, with support from customers representing 68% of contracted CQCN tonnages. This draft will extend and amend the current access regime, building on established processes while introducing rolling agreements and more flexible transfer provisions.

For Aurizon, the agreement is expected to deliver a revenue uplift via changes to depreciation and the introduction of the new Throughput Payment, which partially replaces the existing WACC uplift. The updated methodology will also bring forward future cash flows and reflect a more accurate cost of debt within WACC calculations.

UT5+ remains subject to QCA approval, so the final terms could still change after regulatory review.

What did Aurizon Holdings management say?

Andrew Harding, Managing Director & CEO said:

This agreement has been reached after many months of constructive engagement with our Network customers and the proposed UT5+ is being lodged eighteen months prior to expiry of the current undertaking. It provides regulatory certainty for many years to come and delivers a range of beneficial outcomes for all parties.

What's next for Aurizon Holdings?

The next stage will involve review by the Queensland Competition Authority, which must approve the undertaking before implementation. If adopted, UT5+ would provide stability and transparency for network users through to 2037.

Aurizon is positioning itself for efficiency and operational improvements while responding to evolving customer and regulatory expectations. Investors can expect further updates as the QCA assessment progresses.

Aurizon Holdings share price snapshot

Over the past 12 months, Aurizon shares have risen 10%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Aurizon lodges new 10-year network access undertaking with QCA appeared first on The Motley Fool Australia.

We don't need to just look at the biggest companies or fast-growing businesses as the only opportunities. There are some compelling options that fund manager L1 Capital has identified.

One of them is a major rail infrastructure operator in Australia, while the other is involved in slot machines and gaming. Let's take a look at the appeal of the two businesses.

Aurizon Holdings Ltd (ASX: AZJ)

L1 points out that rail business Aurizon recently reaffirmed its earnings guidance at its annual general meeting (AGM) during the month and continued to execute on its $150 million share buyback program that it announced in August.

The fund manager said that commodity network volumes suggest a strong start to FY26, with robust coal volumes in New South Wales and Queensland, as well as Western Australian grain volumes are on track for a record year.

L1 said the Aurizon share price has benefited from a broker upgrade which highlighted potential upside from the value in its 'network' business.

Additionally, the investment team pointed out that Australia's rare earths deal with the US may have drawn additional attention to some of the medium-term and long-term opportunities for the 'bulks' segment where the ASX 200 share is "uniquely positioned both as a logistics partner and as a rail network owner through the central corridor of Australia."

L1 then said it believes Aurizon shares are "materially undervalued", with the regulated network business representing more than half of the company's value and remains "significantly under-appreciated by the market."

The fund manager also notes that the coal haulage business remains substantial and a strong cash generator for the company. L1 is also expecting improving cash flow from the 'bulks' business, supported by growth opportunities and a tighter approach to expansionary capital expenditure than it has had in recent years."

L1 concluded:

With strong and growing cash flows from the underlying business, we anticipate continued solid returns to shareholders through dividends and share buybacks.

Light & Wonder Inc. CDI (ASX: LNW)

The other business that L1 highlighted was Light & Wonder, which is a cross-platform international gaming business that has a sizeable presence in the North American market. Light & Wonder also offers digital game content.

The fund manager said that the business has been impacted recently with softer US gaming revenue across the industry, as well as the impact of a change in listing locations where the company will de-list from the NASDAQ and the overhang from a litigation dispute with Aristocrat Leisure Ltd (ASX: ALL).

Despite the impacts of a tougher consumer backdrop, gaming revenue remain "mostly positive overall" across the industry. L1 believes the ASX 200 share is well-placed to continue gaining market share.

The fund manager believes the listing change will lead to forced selling from US passive investors as the company transitions from a dual NASDAQ and ASX listing to a sole primary ASX listing by the end of this calendar year.

While the listing changes are likely to cause short-term volatility, L1 believes the company is well-placed to deliver solid earnings growth over the medium-term, driven by its strong land-based game performance.

The post Why investors should be bullish on these 2 compelling ASX 200 shares appeared first on The Motley Fool Australia.

That's because these shares have been rated as buys and tipped to provide investors with attractive dividend yields in the coming years.

Here's what they are recommending to clients this week and what sort of yields are on offer for income investors:

Aurizon Holdings Ltd (ASX: AZJ)

Macquarie thinks that rail freight operator Aurizon could be an ASX dividend stock to buy.

Although its performance has been relatively mixed, the broker believes it is positioned for growth in the near term. As a result, it sees value in the company's shares at current levels.

It also expects some attractive dividend yields from its shares. Macquarie is forecasting fully franked dividends per share of 19.6 cents in FY 2026 and then 21.8 cents in FY 2027. Based on its current share price of $3.41, this equates to dividend yields of 5.75% and 6.4%, respectively.

Macquarie has an outperform rating and $3.70 price target on its shares.

Telstra Group Ltd (ASX: TLS)

Another ASX dividend share that could be a buy for income investors is Telstra.

It remains a top choice for dividend-focused investors and it isn't hard to see why. Its leading position in Australia's mobile and broadband markets supports consistent cash flows.

Analysts at Macquarie expect this to underpin fully franked dividends of 20 cents per share in FY 2026 and then 21 cents per share in FY 2027. Based on its current share price of $4.85, this would mean dividend yields of 4.1% and 4.3%, respectively.

Macquarie has an outperform rating and $5.04 price target on Telstra's shares.

Transurban Group (ASX: TCL)

Toll road giant Transurban could be another ASX dividend share to buy according to analysts.

The team at Citi remains positive on the company and has been pleased with recent traffic growth trends.

It believes this could allow Transurban to outperform its dividend guidance this year. As a result, it is forecasting dividends per share of 69.5 cents in FY 2026 and then 73.7 cents in FY 2027. Based on its current share price of $14.41, this would mean dividend yields of 4.8% and 5.1%, respectively.

The broker currently has a buy rating and $16.10 price target on its shares.

The post 3 strong ASX dividend shares to buy and hold appeared first on The Motley Fool Australia.

For example, the ASX 200 stock in this article has been tipped to deliver a market-beating return over the next 12 months by analysts at Macquarie Group Ltd (ASX: MQG). Here's what the broker is saying about it.

Which ASX 200 stock?

The stock that Macquarie is bullish on is rail freight operator Aurizon Holdings Ltd (ASX: AZJ).

It notes that the company recently held its annual general meeting and revealed that it was delaying its change of chair. Macquarie thinks this may be due to a potential asset sale. The broker said:

New Chair decision has been pushed back to the coming months, but the change has been reiterated. We see this blending into the second decision around whether to partially sell the network business, which is likely to be made under the new Chair. The decision will be made by February, which is reflective of the UT6 negotiation being principally complete.

Macquarie also highlights that industry data has been relatively neutral for the ASX 200 stock. As a result, it has held firm with its earnings estimates. It adds:

Operationally data is relatively neutral. Below rail will underperform the regulated outcome, but this is as expected, and AZJ will report based on the regulated outcome. Above rail recovery in volumes is yet to emerge, and bulk indicators appear neutral, thus EBITDA outlook is unchanged at $1.68-1.75bn. For the first time AZJ has provided dividend guidance of $0.19-0.20 (MRE $0.196, VA $0.195).

Upgrade to outperform

In response to the update, Macquarie has upgraded the ASX 200 stock to an outperform rating with an improved price target of $3.70.

Based on its current share price of $3.40, this implies potential upside of 9% for investors over the next 12 months.

In addition, Macquarie is expecting an attractive dividend yield of approximately 5.8% in FY 2026.

Combined, this boosts the total potential return from Aurizon's shares to almost 15%.

Commenting on its upgrade, the broker said:

Upgrade to Outperform from Neutral. TP raised to $3.70ps (prev $3.34) reflecting a higher network RAB multiple. Network realisation maybe positive but at a cost of future flexibility. Change of Chair potentially see strategy revision to address the core issue, inconsistent above rail growth.

Catalysts: Progress on UT6 enables the potential realisation of below rail, albeit we are unconvinced of the strategic benefit. Evidence of some delivery in bulk and freight segment, and coal recontracting

The post Upgrade alert! Macquarie predicts 15% return for this ASX 200 stock appeared first on The Motley Fool Australia.

This gives shareholders the opportunity to see how companies they own or are interested in are performing.

Last week, REA Group Ltd (ASX: REA) hosted its AGM. 

This week, we will hear from several more ASX 200 companies.

9 ASX companies in Macquarie Group Ltd (ASX: MQG)'s coverage universe are set to report. What are Macquarie's price targets on those stocks?

Telstra Ltd (ASX: TLS)

Australia's leading telecommunications company, Telstra, is set to hold its AGM on 14 October. 

Telstra shares have risen 20% for the year to date.

Macquarie has an outperform rating and price target of $5.04 on Telstra shares.

Commonwealth Bank of Australia (ASX: CBA)

Australia's largest bank, CBA, will hold its AGM on 15 October. 

CBA shares have risen 10% for the year to date.

Macquarie currently has an underperform rating and price target of $106 on CBA shares. 

Lottery Corporation Ltd (ASX: TLC)

ASX 200 consumer discretionary stock Lottery Corporation will also host its AGM on 15 October.

Lottery Corporation shares have risen 12% for the year to date.

Macquarie currently has a neutral rating and price target of $5.50 on Lottery Corporation shares.

ARB Corporation Ltd (ASX: ARB)

ASX 200 consumer discretionary company ARB Corporation will hold its AGM on 16 October. 

ARB shares have declined 3% for the year to date. 

Macquarie currently has an outperform rating and price target of $44.90 on ARB shares.

Aurizon Holdings Ltd (ASX: AZJ)

ASX 200 infrastructure stock Aurizon will also hold its AGM on 16 October 

Aurizon shares are flat for the year to date.

Macquarie currently has a neutral rating and price target of $3.34 on Aurizon shares.

Charter Hall Long WALE REIT (ASX: CLW)

ASX 200 REIT Charter Hall Long WALE REIT will host its AGM on 16 October.

Charter Hall Long WALE REIT shares have risen 13% for the year to date. 

Macquarie has an underperform rating and price target of $4.20 on Charter Hall Long WALE REIT shares.

Imdex Ltd (ASX: IMD)

ASX 200 materials stock Imdex will hold its AGM on 16 October.

Imdex shares have surged 54% for the year to date. 

Macquarie currently has a neutral rating and price target of $3.50 on Imdex shares.

Stockland Corporation Ltd (ASX: SGP)

ASX 200 real estate stock Stockland Corporation will hold its AGM on 16 October.

Stockland shares have risen 29% for the year to date. 

Macquarie currently has a neutral rating and price target of $6.16 on Stockland shares. 

Treasury Wine Estates Ltd (ASX: TWE)

Finally, ASX 200 consumer staples company Treasury Wine Estates will also host its AGM on 16 October. 

Treasury Wine shares have fallen 38% for the year to date. 

Macquarie currently has a neutral rating and price target of $8.00 on Treasury Wine Estates shares.

The post 9 ASX 200 stocks hold their AGMs this week. What are Macquarie's price targets? appeared first on The Motley Fool Australia.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to snap its winning streak on Wednesday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.35% lower this morning. In the United States, the Dow Jones was down 0.2%, the S&P 500 fell 0.55%, and the Nasdaq dropped 0.95%.

Oil prices rally

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices rallied higher overnight. According to Bloomberg, the WTI crude oil price is up 2.15% to US$63.61 a barrel and the Brent crude oil price is up 1.9% to US$67.84 a barrel. This was driven by delays in the restart of Kurdish exports.

Dividend pay day

A number of ASX 200 shares will be rewarding their shareholders with dividend payments on Wednesday. This includes insurance giant Suncorp Group Ltd (ASX: SUN), energy behemoth Woodside Energy Group Ltd (ASX: WDS), and rail freight operator Aurizon Holdings Ltd (ASX: AZJ). The latter is paying a fully franked 6.5 cents per share dividend to its shareholders.

Gold price rises

It looks set to be another good session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Wednesday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.6% to US$3,797.2 an ounce. The gold price hit a new record high after US Federal Reserve Chair, Jerome Powell, raised concerns over the state of the U.S. economy.

TechnologyOne shares rated as a hold

TechnologyOne Ltd (ASX: TNE) shares are fairly valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating on the enterprise software provider's shares with an improved price target of $38.50 (from $35.75). It said: "With the potential of some material positive announcements at Showcase next month we have increased the multiples we apply in the PE ratio and EV/EBITDA valuations from 75x and 40x to 80x and 42.5x and have also reduced the WACC we apply in the DCF from 8.2% to 7.9%. […] The net result is an 8% increase in our PT to $38.50 which is a 1% premium to the share price so we maintain our HOLD recommendation. That is, despite the likelihood of some positive AI-related announcements with some actual associated financial impacts we continue to see the stock as around fair value trading on an FY26 PE ratio and EV/EBITDA of c.75x and 40x respectively."

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.