Sectors: Infrastructure
Hi guys,
DBI: Plenty of analysis around including MM on this infrastructure stock and I have owned it for 6 years so very happy with price growth and annual distributions. What I was interested in is your thinking for 2031 – the reset year for all their 11 customers. I am trying to get my head around whether the negotiations at that forward time are likely to be positive, super positive, negative or just ho-hum for impact. Broker coverage seems negligible on this important timeline. My current thinking is that their customers are sort of locked in by geography of their mines and the DBI terminal. Were they to change coal handling terminals I suspect (but don’t really know) that extra freight costs will weigh heavily. And is DBI charge per tonne more, less or similar to potential infrastructure rivals? Any thoughts you have on this aspect of DBI gratefully appreciated to firm up whether I add to my current holdings.
DBI +2.69%: delivered another solid half, with earnings growing, distributions stepping higher and management reiterating its medium-term target for ongoing dividend growth. For a stock we primarily own for income, the result was very much in line with our expectations.
Shares in DBI performed well for some time after the final sell down by Brookfield. However they have been sliding for some time now for no apparent reason. Can you cast any light as to what is going on with this stock
APA +0.89%: delivered a an inline FY26 with underlying EBITDA up 8% and strong free cash flow supporting another increase in distributions.
AZJ: -10.34%: The freighter put out a largely in-line FY26 result, though the market instead focussed on a softer FY27 outlook for its coal haulage business. As we flagged ahead of the result, FY26 was relatively well understood and the key question was whether growth elsewhere could offset pressure on coal volumes – today’s guidance suggests that task will be harder than hoped.
With investors looking to diversify their market exposure this morning, we’ve revisited an old market favourite which is now trading on the inexpensive side after a rough 12 months. So far in 2026, CWY is underperforming the ASX, trading down almost 8%, although it has bounced well off its lows more recently.
Hi guys
Infrastructure stocks are relatively scarce on the ASX, particularly businesses with the scale, asset quality and inflation-linked revenue profile of Transurban (TCL). The company owns a portfolio of difficult-to-replicate toll roads across Sydney, Melbourne, Brisbane and North America, with traffic growth and contracted toll increases supporting a relatively dependable and growing distribution.
Hi. I am new to your service and am enjoying your current views on markets and stocks. However. I am having trouble reconciling your views on stocks and the forecast score. The latter is something I put emphasis because, if reliable, it indicated the stock’s quality. Two examples are SDR which you are ” long and bullish on around $4, yet the ” forecast” score is 5/10. Conversely for SSM you apparently have no interest, yet it has a perfect score of 10/10.
Can you address my confusion please?
Hello James and crew,
