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Date : 25/08/2023

Best ASX Stocks to Buy Now for September 2023

Investors often adopt a defensive stance in anticipation of economic downturns. In the current climate of elevated inflation and increasing interest rates, sectors like utilities, consumer staples, energy, and infrastructure tend to be more resilient.

Here’s a list of the best ASX stocks to buy now for September 2023, selected primarily based on their growth rates. 

GR Engineering Services (ASX: GNG)

GR Engineering, a leading Australian consulting and engineering firm, is known for its design and construction services in the mining and mineral processing arena. In the first half of 2023, they announced two significant achievements:  a subsidiary securing a *AU$233.63 million contract for the Moranbah Gas Plant in Queensland, and a *AU$327.08 million EPC contract with Hastings Technology Metals (ASX: HAS) for the Yangibana Rare Earths Project in Western Australia.

Spanning operations in over 20 countries, GR Engineering shares are strategically positioned to leverage the expected boom in metal and mineral extraction over the next decade, fueled by global net zero goals. This potential, combined with the stellar performance of commodities, enhances their growth prospects. This ASX dividend stock has an annual dividend yield of 8.23%.

best asx stocks to buy now september 2023 gr engineering services asx gng tradingview

* Exchange Rate Used as of August 25, 2023: 1USD: 1.56AUD

 

Woodside (ASX: WDS) 

The Woodside stock is a key player in the ASX-listed energy sector, specialising in hydrocarbon exploration, production, and development. Demonstrating its strategic vision, the company has channelled investments into notable projects such as Mad Dog 2, Scarborough, and Sangomar. For the six months ending June 30, 2023, Woodside reported a commendable performance, achieving a first-half net profit after tax (NPAT) of AU$2.71 billion, a 6% increase on H1 2022.

In light of the recent regulatory emphasis on Indigenous consultation stemming from Santos’ Barossa venture, Woodside remains committed to upholding compliance and cultivating strong community ties. Additionally, adapting to the Victorian Government’s 2024 policy shift on gas connections in new homes, the company is strategically eyeing overseas opportunities, including in East Timor. As of the latest figures, Woodside offers a robust annual dividend yield of 9.26% and is one of the best ASX stocks to buy now for your September portfolio.

best asx stocks to buy now september 2023 woodside asx wds tradingview

 

Transurban Group (ASX: TCL) 

Transurban manages 22 toll routes across key cities such as Sydney, Melbourne, Brisbane, as well as internationally in the Greater Washington region and Montreal. The strength of toll operations is reflected in its consistent revenue, underscored by the share price ascending 17% over the past five years. This growth outpaces the market return of 12%, excluding dividends, rewarding long-term TCL share investors with an annualised gain of 7% over the same period.

Transurban’s financial structure demonstrates a keen resilience against inflation. As of 31 December 2022, a substantial 68% of its income aligned with the CPI, complemented by another 27% growing at a fixed rate of 4.24%. Given that main inflation drivers like housing, recreation, and household items have minimal bearing on its costs, Transurban holds a distinct edge as one of the best ASX stocks to buy. Investors would also note its appealing annual dividend yield of 3.49%.

best asx stocks to buy now september 2023 transurban asx tcl tradingview

 

Shares in Value is an Australian-owned research company focusing on ASX equities. We guide self-directed investors and SMSFs, helping them make informed decisions. With a base of 30,000 subscribers, we’ve highlighted standout stocks like GUD. If you’re keen to delve deeper, we provide a complimentary personalised walkthrough of our portfolio. Book your session here

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