APA GROUP (APA)
Share Price Analysis and Chart

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APA - APA GROUP

FNArena Sector : Infrastructure & Utilities
Year End: June
GICS Industry Group : Utilities
Debt/EBITDA: 7.14
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

APA Group owns and operates natural gas and electricity assets, while increasingly adding renewables. It is Australia's largest natural gas infrastructure business and one of few true local dividend champions. It listed in 2000.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.93

19 Jul
2024

-0.100

OPEN

$7.95

-1.25%

HIGH

$7.97

2,095,250

LOW

$7.90

TARGET
$8.804 11.0% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
AGL . AIA . ALX . CEN . DBI . DBI . GNP . MEZ . ORG . SRJ . TCL .
FNARENA'S MARKET CONSENSUS FORECASTS
APA: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx 22.3 21.1 xxx
DPS (cps) xxx 55.0 56.0 xxx
EPS Growth xxx 14.1% - 5.4% xxx
DPS Growth xxx 3.8% 1.8% xxx
PE Ratio xxx N/A 37.6 xxx
Dividend Yield xxx N/A 7.1% xxx
Div Pay Ratio(%) xxx 246.7% 265.7% xxx

Dividend yield today if purchased 3 years ago: 5.68%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

6.94

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/12 - ex-div 26.5c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx22.3
DPS All xxxxxxxxxxxxxxx55.0
Sales/Revenue xxxxxxxxxxxxxxx2,834.0 M
Book Value Per Share xxxxxxxxxxxxxxx161.9
Net Operating Cash Flow xxxxxxxxxxxxxxx1,206.0 M
Net Profit Margin xxxxxxxxxxxxxxx9.28 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx11.59 %
Return on Invested Capital xxxxxxxxxxxxxxx1.96 %
Return on Assets xxxxxxxxxxxxxxx1.61 %
Return on Equity xxxxxxxxxxxxxxx11.59 %
Return on Total Capital xxxxxxxxxxxxxxx6.45 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-484.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx218 M
Long Term Debt xxxxxxxxxxxxxxx11,368 M
Total Debt xxxxxxxxxxxxxxx11,586 M
Goodwill - Gross xxxxxxxxxxxxxxx1,184 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx513 M
Price To Book Value xxxxxxxxxxxxxxx5.99

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx1,180.0 M
Capex % of Sales xxxxxxxxxxxxxxx41.64 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,887 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx74 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx703 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.2

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

20/06/2024

1

Outperform

$9.40

18.54%

Macquarie adjusts the earnings outlook for APA Group on the back of more a more subdued contribution from the South West Queensland Pipeline (SWQP) and a reduction in contracting for the Northern Goldfield interconnect (NGI), due to softer commodity prices.

The broker envisages growth potential from the Pilbara project, with near-term opportunities in Port Hedland and medium-term projects in Newman.

Despite softer FY25 and FY26 EBITDA outlooks, dividend growth of 1c-2c p.a. is expected over the next 2-3 years.

Macquarie anticipates approvals and developments in the Pilbara grid by February 2025.

The analyst adjusts estimates for EPS forecasts by -0.3% for FY24 and -16% for FY25.

An Overweight rating and $9.40 remain unchanged.

FORECAST
Macquarie forecasts a full year FY24 dividend of 56.00 cents and EPS of 16.60 cents.
Macquarie forecasts a full year FY25 dividend of 58.00 cents and EPS of 18.80 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

27/06/2024

2

Overweight

$9.00

13.49%

The Australian Energy Market Operator (AEMO) has called upon gas producers to increase output due to rapid depletion of Iona gas storage, higher gas-powered generation demand and low Longford gas output.

A $1/GJ increase in the broker's forecast contracted gas price assumptions lifts its APA Group valuation by around 2%. The company has additional capacity to capture more value upside via the impact of higher gas prices on electricity prices, note the analysts.

Overweight rating. Target $9.00.

APA STOCK CHART