Report
Andrew Bischof, CFA
EUR 147.86 For Business Accounts Only

Regulated investments support the firm's narrow moat.

We are reaffirming our GBX 850 per share fair value estimate ($26 per ADR share), narrow economic moat, and stable moat trend ratings after United Utilities Group reported fiscal year 2016 operating profit of GBP 604.1 million, compared with GBP 664.3 million last fiscal year and in line with our expectations. In the fiscal year, the company paid a GBX 38.45 per share dividend, in line with management's annual dividend growth target of at least retail price index, and up 2% from the last fiscal ...
Underlying
United Utilities Group PLC

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Andrew Bischof, CFA

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