Due to the rise of more than 10% of the Soul Patts share price over the past month, it's the biggest position in my portfolio, with some distance to the second-largest position in my portfolio.

There's a lot to like about the business and there has been a recent change with the Soul Patts portfolio that makes me more bullish on the business.

Asset selldown

The investment house gives investors exposure to a wide variety of industries such as resources, telecommunications, swimming pools, agriculture, water entitlements, electrification and plenty more.

For most of the last few decades, its three largest holdings were New Hope Corporation Ltd (ASX: NHC), Brickworks and TPG Telecom Ltd (ASX: TPG).

Soul Patts recently acquired the entire Brickworks business and continues to hold a substantial stake of New Hope. But, it has made a big investment decision with its TPG holding.

Over the last several weeks it has made multiple sales of TPG shares, raising hundreds of millions of dollars. In fact, Soul Patts has sold so many shares that it has ceased to be a substantial shareholder in TPG.

Why I think this was a great move for Soul Patts shares

TPG has been a great long-term investment for Soul Patts that it has held for decades.

However, I think it is a good time to move on. TPG has not been delivering sufficient growth, in my view, to justify being a long-term holding. Its margins and market share have not been growing in the way I was hoping for.

The TPG share price has dropped close to 40% since October 2021 – it has been going in the wrong direction for a while, though part of that was because of the capital return to shareholders after the sale of some of its telecommunication assets.

Ideally, as an owner of Soul Patts shares, I want to see its investments deliver long-term capital growth and dividend growth for the investment house's portfolio.

Soul Patts can reallocate the TPG money into other opportunities.

I think new, non-TPG investments will deliver stronger growth for Soul Patts over time compared to sticking with the telco, even if that means paying some tax on the gains (which turn into franking credits).

As a result of this change, I think Soul Patts can deliver stronger long-term portfolio growth, which makes it more appealing to own, in my view.

The post Why I'm even more bullish about Soul Patts shares from now on! appeared first on The Motley Fool Australia.

Is it bullish, bearish, or something in between? Let's find out:

Coles Group Ltd (ASX: COL)

The team at Morgans believes that this supermarket giant could be worth considering following recent share price weakness.

Although its half-year result was a touch softer than it was expecting, the broker has put an accumulate rating and $22.90 price target on Coles' shares. It said:

While COL's 1H26 result was slightly softer than expected, execution remains strong in the core Supermarkets division. […] Despite the slight downgrade to earnings, our target price remains unchanged at $22.90 due to a roll-forward of our valuation to FY27 forecasts. With a 12-month forecast TSR of 15%, we upgrade our rating to ACCUMULATE (from HOLD).

In our view, COL continues to perform well with key Supermarkets metrics such as customer scores, sales growth, cost discipline and store execution remaining solid. We hence view the recent share price pullback as an attractive entry point.

Light & Wonder Inc. (ASX: LNW)

Another ASX 200 share that Morgans has been looking at is gaming technology company Light & Wonder.

The broker has been pleased with the company's performance and believes it is well-placed to build on this. Morgans recently put a buy rating and $195.00 price target on its shares.

It named four reasons why it thinks investors should snap up Light & Wonder's shares. They are:

In our view, LNW trades on an undemanding valuation given: (1) supportive NA EGM demand; (2) litigation overhang behind it; (3) a balance sheet set to de-lever through 2026 (MorgansF: ~2.9x); and (4) Grover providing a high-return, recurring revenue vertical growing ahead of expectations. We upgrade to BUY, however lower our price target to A$195 (previously A$200).

TPG Telecom Ltd (ASX: TPG)

Finally, the broker notes that this telco delivered a full-year result in line with expectations.

It was particularly pleased with TPG Telecom's subscriber growth after a period of underperformance. It has put an accumulate rating and $4.40 price target on its shares. It said:

TPG's FY25 result was in line with guidance and consensus expectations, as was its underlying EBITDA and capex guidance for FY26. The highlight was continued strong mobile subscriber growth. For many years TPG/Vodafone has struggled to grow mobile market share. However, over the course of 1HCY25 and 2HCY25 it has ignited growth and outpaced peers in terms of mobile subscriber growth.

Its network quality and brands are resonating with consumers and medium-term mobile growth could soon become a trend. We make non-material underlying forecast changes. Our target price lifts to $4.40 from $4.20 and we retain our Accumulate recommendation.

The post Should you buy Coles, Light & Wonder, and TPG Telecom shares in April? appeared first on The Motley Fool Australia.

That caps off a strong run. The ASX telecom giant is now up around 28% over the past 12 months. By comparison, the S&P/ASX 200 Index (ASX: XJO) gained 9.7% over the same period.

So, what's driving the rally? In part, it looks like investors are leaning into defensive names. In volatile markets, companies with stable earnings and reliable dividends often come back into favour. And Telstra shares fit that bill.

But after such a strong run, what comes next?

Australian dominance

Telstra's biggest advantage is its dominant position in Australia's telecommunications market. It has a vast mobile and broadband network, along with millions of customers, giving it scale that competitors struggle to match.

Earnings are also relatively resilient. Telecom services are essential, which means demand tends to hold up even during economic slowdowns.

The company is also benefiting from its ongoing strategy focused on improving margins and monetising its infrastructure. Investments in 5G and network quality are helping support pricing power and customer growth.

Importantly, Telstra generates strong and consistent cash flow — a key factor behind its appeal to investors.

Pressure pricing, large investments

Despite its strengths, Telstra is not without risks.

Competition remains intense, particularly in mobile and broadband. Rivals like Optus and TPG Telecom Ltd (ASX: TPG) can still pressure pricing, especially in value segments of the market.

The business also requires ongoing capital investment to maintain and upgrade its network. These costs can weigh on free cash flow at times.

Another risk is valuation of Telstra shares. After a strong rally, the share price may already reflect much of the good news. That could limit upside in the near term if earnings growth doesn't keep pace.

Dividend appeal

One of the biggest drawcards of Telstra shares is its dividend.

The company is known for paying fully franked dividends, making it popular with income-focused investors. Its stable cash flow supports consistent payouts, and recent results have shown growth in dividends.

Last month, Telstra lifted its FY2026 interim dividend by 10.5% to 10.5 cents per share. If that momentum continues, it could deliver a fourth straight year of dividend growth.

That means that Telstra offers a solid dividend yield of around 4% at current price level.

What next for Telstra shares?

Broker views on Telstra are currently mixed.

The average 12-month price target sits around $5.20, which is slightly below the current share price. That suggests analysts see limited upside from here in the short term.

The most bullish broker has a price target of $5.60, implying about 7% upside. On the other hand, the most pessimistic view sits at $4.50, which would represent a potential 14% downside over 12 months.

In other words, while Telstra shares have delivered strong recent gains, analysts are divided on where it goes next.

The post Telstra shares hit new highs: what's next? appeared first on The Motley Fool Australia.

Three that have received accumulate ratings following their review are named below. Here's what the broker is saying about them:

Coles Group Ltd (ASX: COL)

Morgans notes that this supermarket giant delivered a half-year result that was a touch softer than it was expecting. This was particularly the case with the Liquor business, which is battling subdued market conditions and high levels of competition.

Nevertheless, the broker saw enough in the result to upgrade Coles shares to an accumulate rating with a $22.90 price target. It said:

While COL's 1H26 result was slightly softer than expected, execution remains strong in the core Supermarkets division. In line with commentary from Woolworths (WOW), COL said customers remain value conscious and the grocery market continues to be highly competitive. In Liquor, the market remains subdued with competitive intensity increasing, particularly in 2Q26 as Endeavour Group (EDV) stepped up its investment in pricing and promotions.

Despite the slight downgrade to earnings, our target price remains unchanged at $22.90 due to a roll-forward of our valuation to FY27 forecasts. With a 12-month forecast TSR of 15%, we upgrade our rating to ACCUMULATE (from HOLD). In our view, COL continues to perform well with key Supermarkets metrics such as customer scores, sales growth, cost discipline and store execution remaining solid. We hence view the recent share price pullback as an attractive entry point.

PEXA Group Ltd (ASX: PXA)

This property settlements company could be an ASX share to accumulate according to Morgans.

It was pleased with its performance in the first half, highlighting that its profits were well ahead of expectations.

In response, the broker has retained its accumulate rating with an increased price target of $17.01. It said:

PXA's 1H26 core NPAT (A$21m) was up +90% on the pcp and double Visible Alpha consensus (A$9.3m).  FY26 Core NPAT guidance was also lifted from A$5m to A$15m, to $15m to A$25m. We saw this as a robust result overall. Whilst PXA clearly benefited from an improved volume environment in both Australia and the UK in 1H26, the +3% improvement in the group EBITDA margin highlighted strong cost control, and benefits from efficiency improvements.

In our view, revised FY26 guidance still appears conservative, whilst the key stock catalyst of the launch of the Natwest remortgage product is tracking to schedule. We lift our PXA FY26F/FY27F cash EPS by >+10% on the stronger than expected 1H26 result, and re-modelling for PXA's new divisional disclosures. Our PT rises to A$17.01 (previously A$16.09). ACCUMULATE maintained.

TPG Telecom Ltd (ASX: TPG)

Finally, this telco delivered an FY 2025 result that was in line with expectations.

One item that Morgans was particularly pleased with was its mobile subscriber growth, which was strong. As a result, it has retained its accumulate rating and lifted its price target to $4.40. The broker explains:

TPG's FY25 result was in line with guidance and consensus expectations, as was its underlying EBITDA and capex guidance for FY26. The highlight was continued strong mobile subscriber growth. For many years TPG/Vodafone has struggled to grow mobile market share. However, over the course of 1HCY25 and 2HCY25 it has ignited growth and outpaced peers in terms of mobile subscriber growth.

Its network quality and brands are resonating with consumers and medium-term mobile growth could soon become a trend. We make non-material underlying forecast changes. Our target price lifts to $4.40 from $4.20 and we retain our Accumulate recommendation.

The post Broker recommends investors accumulate these ASX shares appeared first on The Motley Fool Australia.

Meanwhile, the professionals continue to assess companies' earnings reports and re-rate ASX stocks accordingly.

Let's take a look at what Morgans thinks of these three ASX companies following their results.

Helloworld Travel Ltd (ASX: HLO)

Helloworld reported a 12.1% lift in underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) to $30.5 million for 1H FY26.

The ASX travel share will pay a pay a fully franked interim dividend of 5 cents per share.

Post-results, Morgans maintained its buy rating on Helloworld shares, commenting:

HLO reported a strong 1H26 result which slightly beat expectations.

FY26 EBITDA guidance for 15-30% growth was reiterated. Its forward bookings remain strong.

Following the 1H26, we have upgraded our forecasts.

Given HLO's undemanding trading multiples, improved trading conditions and contribution from new accretive acquisitions, we reiterate our BUY rating.

Coles Ltd (ASX: COL)

Coles reported a 12.5% lift in net profit after tax (NPAT), excluding significant items, to $676 million.

NPAT including significant items was $511 million, down 11.3%.

Those significant items totalled $235 million, or $165 million after tax, and were the result of a Federal Court judgment relating to Fair Work proceedings involving historical underpayment of workers.

Coles shares will pay a fully franked interim dividend of 41 cents per share, up 10.8% on last year.

Morgans said the 1H FY26 result was softer than expected but execution remained strong.

The broker upgraded the ASX consumer staple share from a hold to accumulate rating.

In our view, COL continues to perform well with key Supermarkets metrics such as customer scores, sales growth, cost discipline and store execution remaining solid.

We hence view the recent share price pullback as an attractive entry point.

The Coles share price has fallen 14.6% over the past six months.

Morgans maintained its 12-month price target of $22.90 on Coles shares.

TPG Telecom Ltd (ASX: TPG)

TPG Telecom reported an NPAT of $52 million for FY25, up from a loss of $140 million in FY24.

The company improved its operating free cash flow by 98.9% to $1,291 million.

TPG Telecom shares will pay a final dividend of 9 cents per share with 30% franking.

After reviewing the numbers, Morgans maintained its accumulate recommendation on the ASX telco share.

The broker said:

TPG's FY25 result was in line with guidance and consensus expectations, as was its underlying EBITDA and capex guidance for FY26.

The highlight was continued strong mobile subscriber growth. For many years TPG/Vodafone has struggled to grow mobile market share.

However, over the course of 1HCY25 and 2HCY25 it has ignited growth and outpaced peers in terms of mobile subscriber growth.

Its network quality and brands are resonating with consumers and medium-term mobile growth could soon become a trend.

The broker increased its 12-month price target on TPG Telecom shares from $4.20 to $4.40.

The post What is Morgans saying about Helloworld, TPG Telecom, and Coles shares? appeared first on The Motley Fool Australia.

Over the past 12 months, TPG shares have declined 13%. They are trailing the S&P/ASX 200 Index (ASX: XJO), which has jumped 11% higher over the same period.

Return to profitability

TPG Telecom is one of Australia's largest telecommunications providers. In recent years, the company has reshaped itself into a leaner, mobile-focused operator.

For FY25, TPG Telecom delivered a return to profitability. The telco posted a $52 million net profit after tax (NPAT), compared with a $140 million loss in FY24.

Service revenue edged 2.2% higher to approximately $4.18 billion. The growth was driven by a 4.2% lift in mobile service revenue as subscriber growth gathered pace. EBITDA rose strongly with 18.4% to $1,660 million; on guidance basis, up 2.0% to $1,637 million.

Higher revenue per user

TPG Telecom pointed to its regional mobile network expansion as a key driver of its 2025 results. It managed to add 228,000 new mobile subscribers over the year.

Growth skewed heavily toward its digital-first brands and enterprise, government and wholesale (EGW) division. The average revenue per user edged higher to $35.5. That's a sign the telco isn't just adding customers but extracting more value from them.

The balance sheet saw a significant reset over the year. TPG Telecom repaid billions in borrowings. It also returned substantial capital to shareholders through dividends, with total ordinary dividends of 18 cents per share declared for FY25.

Simplified business paying dividends

There are clear strengths in TPG Telecom's story. Mobile momentum is building, cash flow has improved substantially, and the simplified business model appears to be gaining traction.

CEO and Managing Director Iñaki Berroeta said:

2025 was a transformational year for TPG Telecom. We delivered another year of mobile subscriber growth, cementing our position as Australia's leading challenger telco… We are well-positioned to unlock further value for customers and shareholders. We are targeting continued growth in our share of Mobile Service Revenue, growing EBITDA margins as we keep costs strongly under control, and ongoing growth in free cash flow, earnings per share and return on capital.

However, risks remain. Competition across mobile and broadband markets is intense, and TPG Telecom must continue executing well to defend margins. Any missteps in its mobile-led strategy could quickly weigh on earnings and the price of TPG shares.

What next for TPG shares?

Looking ahead, TPG Telecom has provided guidance for FY26 EBITDA of $1,665 million to $1,735 million, with capital expenditure of around $750 million. The company expects continued mobile growth and tight cost control to support these targets.

Management is also targeting dividend growth for TPG shares backed by sustainable profits and cash flow. It will also push ahead with further efficiencies as it streamlines the business.

The post Why TPG shares are down on strong full-year results appeared first on The Motley Fool Australia.

What did TPG Telecom report?

• Service revenue increased 2.2% to $4,179 million, with mobile service revenue up 4.2% to $2,423 million
• EBITDA rose 18.4% to $1,660 million; on guidance basis, up 2.0% to $1,637 million
• Net profit after tax (NPAT) of $52 million, compared to a loss of $140 million in FY24
• Operating free cash flow (OFCF) of $1,291 million, up 98.9%
• Final dividend of 9.0 cents per share (30% franked), taking total FY25 dividends to 18.0 cents
• $3 billion capital return and $2.7 billion in bank borrowings repaid

What else do investors need to know?

TPG Telecom credited its 2025 performance to a successful regional mobile network expansion, which brought in 228,000 new mobile subscribers. Growth was strongest in digital-first brands and the EGW business, with average revenue per user ticking up to $35.51.

The company also completed the sale of key infrastructure and business units, making TPG a leaner, more mobile-focused business. Management noted that lower ongoing capital spending and new financing initiatives are expected to continue supporting healthy free cash flow.

What did TPG Telecom management say?

CEO and Managing Director Iñaki Berroeta said:

2025 was a transformational year for TPG Telecom. We delivered another year of mobile subscriber growth, cementing our position as Australia's leading challenger telco… We are well-positioned to unlock further value for customers and shareholders. We are targeting continued growth in our share of Mobile Service Revenue, growing EBITDA margins as we keep costs strongly under control, and ongoing growth in free cash flow, earnings per share and return on capital.

What's next for TPG Telecom?

Looking ahead, TPG Telecom has set guidance for FY26 EBITDA between $1,665 million and $1,735 million, with capital expenditure of around $750 million. The company expects continued mobile growth and tight cost control to support these targets.

Management is prioritising dividend growth in line with sustainable profits and cash flow, subject to Board approval, and will continue to drive efficiencies as it further streamlines its operations.

TPG Telecom share price snapshot

Over the past 12 months, TPG Telecom shares have declined 10%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.

View Original Announcement

The post TPG Telecom FY25 earnings: Mobile subscribers drive profit growth 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.

What was a common yield in 2022 or 2023 now looks like a missed opportunity in 2026.

But although yields are down across the board, there are still opportunities to buy ASX dividend shares today and secure a decent stream of passive income. So today, let's go over five ASX dividend shares that look set to pay a dividend yield of around 4%, provided they keep their 2026 payouts at at least 2025's levels, of course.

Five ASX dividend shares that could pay a 4% yield in 2026

First up is Telstra Group Ltd (ASX: TLS). This telecommunications provider has long been known as one of the dividend income heavyweights of the ASX. Telstra has done a commendable job of raising its dividends like clockwork in recent years. The 19 cents per share in fully franked dividends that the company forked out last year gives Telstra a trailing dividend yield of 3.94% at current pricing.

It will come as no surprise to income investors that our next stock is an ASX 200 bank. ANZ Group Holdings Ltd (ASX: ANZ), like its major bank peers, has a long and respectable track record of providing its investors with fat dividends. This ASX dividend share has had a heck of a run, up almost 60% since mid-2023. That has reduced its dividend yield substantially. But even so, the $1.66 in dividends per share (albeit partially franked) that this bank paid out in 2025 gives ANZ a trailing dividend yield of 4.56% today.

It's a similar story with NAB's ASX banking stablemate Westpac Banking Corp (ASX: WBC). Like NAB, Westpac shares have enjoyed a solid run over the past few years, almost doubling in value since mid-2023 with its 91% gain. In 2025, Westpac funded two fully franked dividends, worth 76 and 77 cents per share respectively. These give this ASX dividend share a dividend yield of 3.94% today.

Last but not least…

Turning away from the banking sector now, it's time to check out Transurban Group (ASX: TCL). Transurban is famous (or perhaps infamous) for owning the vast majority of tolled arterial roads across Australia, most notably in Sydney and Melbourne. These toll roads give Transurban a steady stream of cash flow, which the company uses to fund a robust and reliable dividend. 2025 was the fourth year in a row that investors enjoyed a dividend increase, with the company paying out 32 cents per share in February and 33 cents in August.  These give the company a trailing yield of 4.86% today (although that doesn't come fully franked).

Finally, let's get back to another telco with TPG Telecom Ltd (ASX: TPG). TPG is smaller than Telstra, although arguably more agile. But like its larger rival, this ASX dividend share has become a reliable income payer. TPG has funded two dividends per year for the past few years, which have all come in at 9 cents per share (and fully franked) since 2022. Even if we disregard the additional capital return from last year, these dividends give TPG shares a hefty dividend yield of 4.66% today.

The post 5 ASX dividend shares paying 4% a year on average in 2026! appeared first on The Motley Fool Australia.

With 2026 fast approaching, many investors are now wondering if this could finally be the year TPG starts to rebuild confidence.

TPG has also released its key dates for 2026, giving shareholders a clearer view of when major updates and dividends will land.

Here is what I'll be watching over the next 12 months.

Full-year results kick off the calendar

TPG's first big moment arrives on 27 February 2026, when it unveils its full-year results and announces its next dividend.

This update will be crucial for several reasons. Investors will want to see:

• How the business is recovering after the 000-network outage
• The financial impact of its recent capital initiatives
• Whether margins and mobile subscriber trends are stabilising
• Any early signs of earnings momentum returning

The ex-dividend date falls on 5 March, with payment on 2 April, giving ample time for investors to jump on the dividend.

AGM and mid-year reset

Shareholders will hear straight from management again at the Annual General Meeting on 8 May 2026. After a challenging year, this is likely to be an important opportunity for TPG to lay out its strategy and provide reassurance that operational issues are firmly behind it.

The company then hits its half-year reporting period, ending on 30 June, before delivering interim results on 21 August 2026. That update will also include TPG's interim dividend.

Here are the key dividend dates:

• Interim dividend ex-date: 27 August
• Record date: 31 August
• Payment date: 29 September

What could drive a turnaround

TPG has spent months navigating outages, investigations, and major capital returns. But with its free float increasing and large reinvestment plans completed, 2026 may provide a cleaner run for the business.

A few things I will be watching closely:

• Improvements in network performance and customer satisfaction
• Progress in integrating fibre assets and improving mobile coverage
• Evidence that operating costs are being brought under control
• More consistent earnings as short-term disruptions pass

If TPG can tick a few of these boxes, the share price could begin to move in the right direction.

Foolish Takeaway

TPG has had a tough stretch, but the company now has a clear calendar of catalysts in 2026. With dividends back on track and several opportunities to rebuild investor confidence, next year could be an important one for the telecom giant.

The results will speak for themselves, but 2026 is already looking like a year worth keeping on the radar.

The post Could 2026 be a turning point for TPG? Here's what I'm watching appeared first on The Motley Fool Australia.

What did TPG Telecom report?

• Raised approximately $73.4 million through the Retail Reinvestment Plan at $3.566623 per new share
• Issued about 20.6 million new fully paid ordinary shares to participating retail investors, representing a 53% participation rate
• Total new shares issued under both retail and institutional components reached roughly 103.7 million
• Free float increased to 27%, up from 23% prior to the plans
• Total gross proceeds from both reinvestment components achieved around $373 million
• Proceeds will be used to further pay down bank borrowings, amounting to $2.7 billion repaid since 30 June 2025

What else do investors need to know?

The Retail Reinvestment Plan closed on 5 December 2025, offering eligible shareholders the chance to reinvest their recent capital return into new TPG Telecom shares at a 5% discount to average recent trading prices. The new shares will commence trading on the ASX from 11 December 2025 and carry the same rights as existing shares.

Any applications from ineligible shareholders were declined, with refunds to be processed by 17 December 2025. The company highlights the initiative's role in strengthening its capital structure and increasing its free float on the ASX.

What's next for TPG Telecom?

With the completion of this capital initiative, TPG Telecom has improved its balance sheet flexibility by reducing bank borrowings significantly. Looking ahead, the company appears set to focus on sustainable growth while optimising its capital mix.

Investors will be monitoring how these changes support TPG's longer-term strategy and shareholder value, particularly as the increased free float may broaden the company's appeal to a wider investor base.

TPG Telecom share price snapshot

Over the past 12 months, TPG Telecom shares have fallen 17%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen around 2% over the same period.

View Original Announcement

The post TPG Telecom lifts free float after $73 million Retail Reinvestment Plan appeared first on The Motley Fool Australia.

So, which four companies were the worst ones to buy on 31 October and hold through to market close on 28 November?

Read on!

Three ASX companies in sharp reverse last month

The first ASX 200 stock investors would have done well to avoid in November is Iperionx Ltd (ASX: IPX).

Shares in the titanium products producer closed out October trading for $6.80 and ended November changing hands for $5.11 apiece. That saw the Iperionx share price down 24.9% over the month just past.

Longer term, shares remain up 13% over 12 months.

Iperionx shares came under pressure in November amid a short seller report released by Spruce Point Management.

"Based on our analysis, we believe investors should exercise caution because the shares may be significantly overvalued," the short seller noted.

Moving on to the second ASX 200 stock taking a sharp fall in November, we have TPG Telecom Ltd (ASX: TPG).

Shares in Australia's third-largest telecommunications company ended October trading for $5.53 and ended November at $3.75. This put the TPG Telecom share price down 32.2% over the month, and it sees shares down 17% in a year.

Some of that selling pressure came after the company raised $300 million through an Institutional Reinvestment Plan, issuing new shares at a 5% discount to the previous trading day's closing price.

But the biggest loss came on 14 November, when TPG Telecom shares closed down 31.1%.

However, those losses weren't as harsh as they might seem. That's because the company had just traded ex-dividend (including an outsized shareholder capital return), which saw stockholders achieving a 28.8% yield relative to the previous trading day's closing price.

Which brings us to the third fast-falling ASX 200 stock in November, Temple & Webster Group Ltd (ASX: TPW).

Shares in the online furniture and homewares retailer closed on 31 October trading for $23.81. At the end of trade on 28 November, shares were changing hands for $15.52 apiece, down 34.8% for the month.

Temple & Webster shares remain up 24% over 12 months.

Almost all of November's losses can be pinned to 26 November, when shares closed the day down a precipitous 32.3%. This followed on a trading update in which the company reported that revenue from 1 July to 20 November was up 18% year on year. But that growth fell short of market expectations, and investors were quick to hit their sell buttons.

The worst-performing ASX 200 stock to hold in November

And the ignominious title of worst performing ASX 200 stock to hold in November goes to DroneShield Ltd (ASX: DRO).

Shares in the drone defence company closed on 31 October trading for $3.83 and ended November at $1.98 apiece.

This saw the DroneShield share price down a steep 48.3% over the month. Though shares remain up 163% over 12 months.

DroneShield shares faced a series of headwinds in November after notching new record highs in October.

The biggest single-day sell-off came on 13 November.

Investors sent the DroneShield share price tumbling 31.4% on the day after learning that CEO Oleg Vornik had sold $49.47 million worth of the company's shares the prior week.

The post The 4 worst performing ASX 200 stocks to hold in November unmasked appeared first on The Motley Fool Australia.

What did TPG Telecom report?

• Institutional Reinvestment Plan to raise $300 million, with completion on 24 November 2025
• Retail Reinvestment Plan targeting up to $138 million, with shares priced at the lower of $3.61 or a 5% discount to VWAP
• Capital Return of $1.61 per share to all shareholders, comprising $1.52 capital reduction and $0.09 unfranked special dividend
• Pro forma revenue of $4.9 billion and EBITDA of $1.6 billion for the year ending 31 December 2024
• Debt repayments of approximately $2.3 billion since June 2025, with further repayments planned using Reinvestment Plan proceeds

What else do investors need to know?

TPG Telecom's Capital Management Plan aims to return $3 billion in cash to shareholders and strengthen the company's balance sheet. The Retail Reinvestment Plan gives eligible retail investors the choice to reinvest some or all of their Capital Return proceeds into new shares, potentially improving the company's free float and trading liquidity.

The plans follow the sale of TPG's fibre network and Enterprise, Government and Wholesale operations to Vocus Group, a move that generated net cash proceeds of around $4.7 billion for TPG Telecom. Proceeds from both the Institutional and Retail Reinvestment Plans will be used to further reduce bank debt, lowering the company's leverage to an estimated 1.1 times FY24 EBITDA (pre-AASB16).

What's next for TPG Telecom?

Looking ahead, TPG Telecom intends to use net proceeds from the Reinvestment Plan to continue reducing its bank debt and support its goal of delivering long-term value to shareholders. The company confirmed its FY25 EBITDA guidance of $1,605 to $1,655 million, with lower capital expenditure of $770 million.

TPG Telecom also plans to focus on integrating new technology, further simplifying its business, and continuing to deliver strong network and customer outcomes. Eligible retail investors have until 5 December 2025 to participate in the Retail Reinvestment Plan.

TPG Telecom share price snapshot

Over the past 12 months, TPG Telecom shares have fallen 16%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 1% over the same period.

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The post TPG Telecom launches $438m reinvestment plan after $3bn capital return appeared first on The Motley Fool Australia.

Here's what's happening.

ASX 200 stocks sinking to 52-week-plus lows

The first company trading at one-year lows today is News Corp (ASX: NWS).

Shares in the diversified media conglomerate are down 0.3% at the time of writing, trading for $44.10. That's the lowest price since early November last year, with News Corp shares having closed in the red for the previous six trading days.

That selling follows a positive response to the ASX 200 stock's first-quarter (Q1 FY 2025) update, released on 7 November.

News Corp shares closed up 3% on the day, with the company reporting a 2% increase in revenue for the quarter to US$2.14 billion. Earnings before interest, taxes, depreciation and amortisation (EBITDA) were up 5% to US$340 million.

Moving on to the second ASX 200 stock plumbing to one-year lows, we have Guzman Y Gomez (ASX: GYG).

Shares in the Mexican fast-food restaurant chain are down 4.2% at the time of writing, changing hands for $22 apiece. That's certainly unwelcome news to shareholders. Though not to the raft of short-sellers betting against the stock. Guzman Y Gomez shares are the sixth most shorted on the ASX this week, with a short interest of 11.8%.

Guzman Y Gomez began trading on the ASX on 20 June 2024, and shares are now at the lowest level since the company listed.

Which brings us to…

Also plunging to new all-time lows

The third ASX 200 stock marking new 52-week plus lows is TPG Telecom Ltd (ASX: TPG).

Shares in Australia's third-largest telecommunications company are down 4% in afternoon trade today, at $3.65 each, after exiting Monday's trading halt. That marks a new all-time low for the stock.

TPG Telecom shares are under pressure today after the company announced it had raised $300 million through an Institutional Reinvestment Plan. TPG issued about 83 million new shares for $3.61 each. That's a 5% discount to last Friday's closing price of $3.81.

Speaking of last Friday, the ASX 200 stock closed down a precipitous 31.1% on the day.

However, as the Motley Fool's James Mickleboro noted on the day, the sell-down wasn't nearly as tough for existing shareholders as you might think.

That's because TPG Telecom traded ex-dividend on Friday for an outsized capital return. That was comprised of a $1.52 per share capital reduction and a 9-cent per share unfranked dividend.

That saw investors achieve a whopping 28.8% yield relative to the previous day's closing price.

The post 3 ASX 200 stocks plumbing 52-week lows today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Ausgold Ltd (ASX: AUC)

The Ausgold share price is down 8.5% to 80.5 cents. This morning, this gold miner announced a fully underwritten two-tranche placement to raise $80 million. The company is raising the funds at a discount of 80 cents per new share. Management notes that the capital raising proceeds, together with existing cash, will support the acceleration of its Katanning Gold Project (KGP) towards a final investment decision. Ausgold's executive chairman, John Dorward, said: "The successful completion in June of the Katanning Gold Project Definitive Feasibility Study and the recent freehold land acquisitions are major milestones on the road to Ausgold becoming Australia's next mid-tier gold producer."

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 13.5% to $2.12. Investors have been selling the counter drone technology company's shares after it announced the resignation of its US CEO, Matt McCrann, effective immediately. In response to the news, DroneShield's CEO, Oleg Vornik, commented: "DroneShield thanks Matt for his contribution to the business and wishes Matt well for his next steps. Our U.S. business includes talented, highly experienced personnel, with our counterdrone systems deployed with a number of tier 1 U.S. Government agencies. The U.S. represents a very important market for DroneShield, that is anticipated to grow across both military and civilian domains, as drones continue to pose an increasing threat."

EML Payments Ltd (ASX: EML)

The EML Payments share price is down 3% to 85.2 cents. This morning, this payments company released a trading update and revealed that its first quarter underlying EBITDA was down 42% on the prior corresponding period to $6.8 million. Despite this, management has reaffirmed its FY 2026 underlying EBITDA guidance range of $58 million to $63 million.

TPG Telecom Ltd (ASX: TPG)

The TPG Telecom share price is down 4% to $3.65. The catalyst for this has been the completion of the institutional component of its reinvestment plan, raising $300 million. Approximately 83 million new shares will be issued at a price of $3.61 per new share. This represents a 5% discount to TPG Telecom's last close price of $3.80. TPG Telecom's managing director and CEO, Iñaki Berroeta, said: "We wish to recognise the strong commitment of the TPG Telecom shareholders who supported this raising. The Reinvestment Plan is the final step of our Capital Management and Liquidity Plan."

The post Why Ausgold, DroneShield, EML, and TPG shares are falling today appeared first on The Motley Fool Australia.

What did TPG Telecom report?

• Raised $300 million via Institutional Reinvestment Plan at $3.61 per share
• Approximately 83 million new fully-paid ordinary shares to be issued
• Offer price represented a 5% discount to TPG Telecom's last close of $3.80
• Institutional component was oversubscribed, exceeding initial target demand
• Retail Reinvestment Plan to raise up to $138 million under a prospectus
• Total bank borrowings repayments will reach approximately $2.7 billion

What else do investors need to know?

The Institutional Reinvestment Plan forms the final part of TPG Telecom's Capital Management and Liquidity Plan, which included returning capital to shareholders. Of note, the plan was reduced from a possible $550 million raising due to a tragic incident involving a Lebara customer and a global market downturn, both affecting trading conditions.

Proceeds from both the institutional and upcoming retail components—totalling up to $438 million—will be used mainly to further reduce bank borrowings. New shares will be issued under existing ASX Listing Rule capacity and will rank equally with existing shares.

What's next for TPG Telecom?

With the Institutional Reinvestment Plan now complete, settlement of new shares is expected on 24 November 2025, alongside the $1.61 per share capital return payment. Normal trading for new shares will start on 25 November 2025.

The Retail Reinvestment Plan's prospectus is expected around 20 November. TPG aims to further reduce debt and increase minority ownership, supporting greater stability and index weighting for its shares.

TPG Telecom share price snapshot

Over the past 12 months, TPG Telecom shares have fallen 16%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 1% over the same period.

View Original Announcement

The post TPG Telecom raises $300m in Institutional Reinvestment Plan appeared first on The Motley Fool Australia.

What did TPG Telecom report?

• Confirmed operational status of TPG Telecom's mobile network during the Triple Zero incident
• Highlighted timely customer notifications to update software on affected Samsung devices
• Institutional component of Reinvestment Plan received strong investor demand
• Trading halt expected to be lifted upon completion of the raising process

What else do investors need to know?

On 13 November 2025, a customer using a Lebara service on a Samsung device tragically could not make a Triple Zero call due to outdated software, resulting in a loss of life. TPG Telecom emphasised that their mobile network was fully operational at the time, and the issue was isolated to certain older Samsung handsets requiring a crucial software update.

The company had previously communicated with customers at risk, with the most recent update sent on 7 November, and noted it follows current regulations by blocking non-compliant handsets after 28–35 days. TPG Telecom has notified the Minister for Communications, the NSW Government, ACMA, Triple Zero Custodian, and other relevant bodies about the incident.

TPG also reminded investors that it is undertaking an institutional share reinvestment, announced on 17 November, with strong demand reported so far. The trading halt is expected to be lifted once the process is completed.

What did TPG Telecom management say?

TPG Telecom Managing Director and CEO, Inaki Berroeta, said:

Customer safety remains our highest priority. This is a tragic incident, and our condolences and thoughts are with the individual's family and loved ones. Access to emergency services is critical. We urge all customers with outdated software to replace or update their devices without delay to ensure they can reach Triple Zero in an emergency.

What's next for TPG Telecom?

TPG Telecom will soon finalise its institutional Reinvestment Plan, with an announcement regarding its completion and an expected lifting of the trading halt. The company will continue updating affected customers and working closely with regulators to maintain the safety and reliability of its network.

Ensuring customer access to emergency services is a top ongoing focus. TPG Telecom encourages all users to keep their devices updated, reinforcing its commitment to transparency and regulatory compliance amid heightened public concern.

TPG Telecom share price snapshot

Over the past 12 months, TPG Telecom shares have fallen 16%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 4% over the same period.

View Original Announcement

The post TPG Telecom provides Triple Zero update and investor plan progress appeared first on The Motley Fool Australia.

Last week, the telco's share price plunged around 30% to about $3.91. Today, TPG shares are in a trading halt, leaving some investors wondering if something has gone horribly wrong.

The answer is no, nothing has gone terribly wrong.

Both last week's sharp fall and today's pause are best understood through one lens: TPG is in the middle of a major capital management and liquidity reset.

Recap: Why did TPG's share price fall 30% last week?

TPG's shares didn't crash because earnings fell off a cliff or because of some nasty new shock. Instead, they went ex-dividend for a huge capital return.

Back in August, TPG announced it would return up to $3 billion to shareholders after banking about $4.7 billion in net proceeds from selling its fibre assets and Enterprise, Government and Wholesale (EGW) business to Vocus.

The package included $1.52 per share for a capital reduction and 9 cents per share for an unfranked special dividend to make it $1.61 per share in total.

With TPG closing at $5.60 the day before going ex-dividend, this capital return represented a jaw-dropping 28.75% yield relative to that price. Unsurprisingly, when the shares traded ex-entitlement, the share price fell by roughly the same amount.

In other words, the 30% drop largely reflects cash going out the door to shareholders, not a sudden collapse in TPG's underlying business. New buyers after the ex-date don't get the payout, so the price adjusts down. Mechanically, that's exactly what you'd expect.

So why the trading halt today?

TPG has asked the ASX to halt trading because it's launching the final stage of its capital management plan: an up to $688 million reinvestment plan.

This plan allows shareholders to reinvest their $1.61 cash distribution into new TPG shares at a discounted price, instead of taking the cash.

There are two parts of the plan, one for big institutions and one for everyday retail investors.

The institutional reinvestment plan lets eligible institutions reinvest their $1.61 cash payout at $3.61 per share, a 5% discount to TPG's last close of $3.80. This could raise up to $550 million.

The retail reinvestment plan also allows retail investors to reinvest all or part of their $1.61 distribution. The shares will be priced at the lower of the $3.61 institutional offer or a 5% discount to the daily volume-weighted average price (VWAP) of TPG shares in the 5 days leading up to the closing date for the offer. This offer could raise up to $138 million.

So why is TPG doing this? TPG's management says that this plan is designed to increase minority shareholder ownership, improve trading liquidity, and help maintain TPG's position in the S&P/ASX 200 Index (ASX: XJO).

Foolish bottom line

TPG's volatility has looked dramatic, but the underlying story is far calmer. The company is executing a large, planned capital management strategy, and today's halt is simply the next step, not a sign of trouble.

The post Why are TPG Telecom shares in a trading halt today? appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Rox Resources Ltd (ASX: RXL)

The Rox Resources share price is down 15% to 38.5 cents. This morning, this gold developer announced that it has received firm commitments to raise approximately $200 million via a placement to a range of high-quality international and domestic institutional investors. This includes a cornerstone investment of $60 million from L1 Capital, which is a leading global investment manager. Management believes it is now well positioned to conclude debt negotiations, which have already attracted significant interest from leading finance providers, and establish itself as Western Australia's next gold producer. First gold is expected by the middle of 2027.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is down 2.5% to $14.62. This may have been driven by news that several law firms have filed class actions against the radiopharmaceuticals company in the United States. They stated: "The Telix Pharmaceuticals class action lawsuit alleges that throughout the class period defendants made false and/or misleading statement and/or failed to disclose that: (i) defendants materially overstated the progress Telix Pharmaceuticals had made with regard to prostate cancer therapeutic candidates; and (ii) defendants materially overstated the quality of Telix Pharmaceuticals' supply chain and partners."

TPG Telecom Ltd (ASX: TPG)

The TPG Telecom share price is down 30% to $3.89. This has been driven by the telco's shares going ex-dividend today for a major capital return. Following the sale of its fibre assets and Enterprise, Government, and Wholesale (EGW) business to Vocus, TPG announced a return up to $3 billion to shareholders through a pro rata capital reduction and cash distribution of up to $1.61 per share. These funds will be paid to eligible shareholders later this month on 24 November. TPG Telecom's CEO, Iñaki Berroeta, said: "The proposed capital return marks a significant milestone in TPG Telecom's transformation into a simpler, mobile-led business – one that delivers a more efficient cost structure and a solid foundation for growth, both now and into the future."

Xero Ltd (ASX: XRO)

The Xero share price is down 2% to $124.81. Investors have been selling Xero and other ASX tech stocks on Friday following a selloff on the tech-focused Nasdaq index overnight. This has seen the S&P/ASX All Technology Index drop by almost 2.5% this afternoon.

The post Why Rox Resources, Telix, TPG Telecom, and Xero shares are dropping today appeared first on The Motley Fool Australia.

At the time of writing, the telco's shares are down a massive 30% to $3.91.

Why are TPG Telecom shares crashing deep into the red?

Despite what you might think based on its share price decline, today's decline is arguably not a bad thing for shareholders.

That's because today's weakness has been driven by TPG Telecom's shares going ex-dividend for a major capital return.

When this happens, it means the rights to an upcoming payout have now been settled and new buyers of its shares will not be entitled to receive it on pay day.

Given that you wouldn't want to pay for something that you won't receive, a company's share price will tend to drop in line with the value of the dividend on the ex-dividend date.

What is TPG paying?

In August, TPG Telecom announced a range of capital management initiatives following the receipt of approximately $4.7 billion in net proceeds from the sale of its fibre assets and Enterprise, Government, and Wholesale (EGW) business to Vocus.

Its capital management plan included the return up to $3 billion to shareholders through a pro rata capital reduction and cash distribution of up to $1.61 per share. This comprises a $1.52 per share capital reduction and a 9 cents per share unfranked special dividend. It also used the funds to make a $1.7 billion repayment of bank borrowings.

Unsurprisingly, earlier this month at an extraordinary general meeting, shareholders voted overwhelmingly in favour of its capital return.

With TPG Telecom shares ending yesterday's session at $5.60, this capital return offered an incredible 28.75% dividend yield. This is broadly in line with its share price decline today.

Commenting on the return, TPG Telecom's CEO, Iñaki Berroeta, said:

The proposed capital return marks a significant milestone in TPG Telecom's transformation into a simpler, mobile-led business – one that delivers a more efficient cost structure and a solid foundation for growth, both now and into the future.

When is payday?

Eligible shareholders won't have to wait long until payday. TPG Telecom intends to pay this capital return in a touch under two weeks on 24 November.

Though, shareholders also have the option to receive their consideration in TPG Telecom shares. Berroeta said:

As well as this, we will also be offering minority shareholders the opportunity to reinvest their proceeds into new TPG Telecom shares through a Reinvestment Plan. Importantly, this will help increase minority ownership, improve trading liquidity, and increase our free float market capitalisation.

The post Why are TPG Telecom shares crashing 30% today? appeared first on The Motley Fool Australia.