United Utilities Releases Full-Year Results in Line With Expectations; Shares Overvalued
We are reaffirming our GBX 700 per share fair value estimate for United Utilities Group, along with our no-moat and stable trend ratings, after management reported underlying 2019 fiscal-year operating profit of GBX 685 million, up 6%, but above our GBX 662 million estimate. The company increased the annual dividend per ordinary share by 3.9% to GBX 41.28, in line with our and consensus' expectations, and with management's policy of increasing the dividend in line with the U.K. retail price inde...United Utilities Group is a water company. Through its subsidiary, United Utilities Water Limited, Co. provides water and wastewater services to peoples in the North West of England.
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