Report
Tancrede Fulop
EUR 100.00 For Business Accounts Only

United Utilities to Be Hit by Cut in Regulatory Returns

We reaffirm our GBX 700 fair value estimate, along with our no-moat and stable trend ratings, after United Utilities said current trading is in line with its expectations in its trading statement for the first nine months of its 2018-19 fiscal year. Shares are overvalued.
The group guides for 2018/19 underlying operating profit are higher than 2017, which is largely within reach after 23% growth in the first half. We are expecting to slightly increase our 4% growth estimate in underlying profit....
Underlying
United Utilities Group PLC

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.

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
Tancrede Fulop

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