Proactiveinvestors United Kingdom United Utilities Group PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom United Utilities Group PLC RSS feed en Mon, 22 Jul 2019 04:37:00 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Publication of Final Terms ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190717140004_14153298/ Wed, 17 Jul 2019 14:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190717140004_14153298/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190715121428_14149605/ Mon, 15 Jul 2019 12:14:28 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190715121428_14149605/ <![CDATA[News - London-listed water firms could be at risk of losing their dividend perk ]]> https://www.proactiveinvestors.co.uk/companies/news/223689/london-listed-water-firms-could-be-at-risk-of-losing-their-dividend-perk-223689.html Three of the LSE’s major water firms, United Utilities Group PLC (LON:UU.), Severn Trent PLC (LON:SVT) and Pennon Group plc (LON:PNN), all saw their shares dip on Wednesday after Ofwat unveiled plans for stricter financing requirements.

The water regulator said in a report on Tuesday that a package of measures aimed at strengthening the “financial resilience” of water firms, including restrictions of the payment of dividends to shareholders if necessary.

READ: United Utilities loses operations chief Steve Fraser to Cadent Gas

Rachel Fletcher, Ofwat’s chief executive, said the new measures would give “greater assurance to customers” about the financial stability and “long-term resilience” of the companies.

The prospect of a regulatory strait-jacket on pay-outs causes a big issue for the publicly-listed water firms, which are often viewed as ‘income stocks’ meaning they attract investment through reliable and hefty divi payments rather than the prospect of gains in the share price.

If these disappear under the new requirements, which will force water companies to maintain an ‘investment grade’ credit rating by locking up certain amounts of cash, the one thing supporting investor interest in these stocks could vanish along with it.

While new measures aren’t due to come into effect until next April, investors already seem a little jittery, with shares in United falling 0.3% to 791.8p in late-afternoon trading while Severn dropped 0.1% to 2,076p and Pennon slipped 0.4% to 761.8p.

The prospect of even more regulation also piles the pressure on a sector that has already been under the cosh amid criticism over rising bills, executive pay and the taking on of debt to satiate the demands of investors.

There is also the looming threat of renationalisation, with the Labour party having already floated plans in May to bring the water companies back under public ownership.

Benefits drying up?

With perhaps the most well-known benefit from the water firm’s stocks seemingly in jeopardy, could the shares be heading for an exodus of investment?

An analyst at a multinational investment bank was relatively unphased, telling Proactive that the new guidelines “weren’t really that new” and were more or less priced into the stocks following a consultation launched by Ofwat last year.

He added that most of the regulatory pressure had come from unlisted water firms, and that those on the stock market were having to adhere to stricter rules than their peers already.

“In terms of the way the industry is trending…it was broadly expected”, he said.

The sentiment that any potential regulatory pressure was already priced in was echoed by Laith Khalaf, an equity analyst at Hargreaves Lansdown, who said that the risk of renationalisation by a potential Labour government was more likely to be weighing on the minds of shareholders.

“[Renationalisation] is still hanging over utilities and that has depressed sector,” Khalaf said, adding that while he didn’t think the dividend risk was anything new, he couldn’t see much of a value opportunity in the shares either.

“Politics is unpredictable at the best of times, and this isn’t in many people’s books the best of times”, he said.

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Wed, 10 Jul 2019 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/223689/london-listed-water-firms-could-be-at-risk-of-losing-their-dividend-perk-223689.html
<![CDATA[RNS press release - Publication of Final Terms ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190703150004_14135476/ Wed, 03 Jul 2019 15:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190703150004_14135476/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190701163707_14132055/ Mon, 01 Jul 2019 16:37:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190701163707_14132055/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190621153003_14120538/ Fri, 21 Jun 2019 15:30:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190621153003_14120538/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190618134909_14115394/ Tue, 18 Jun 2019 13:49:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190618134909_14115394/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190618134209_14115387/ Tue, 18 Jun 2019 13:42:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190618134209_14115387/ <![CDATA[RNS press release - Publication of Supplementary Offering Circular ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190617153539_14113774/ Mon, 17 Jun 2019 15:35:39 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190617153539_14113774/ <![CDATA[RNS press release - Annual Financial Reports subsidiary companies ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190617113554_14113392/ Mon, 17 Jun 2019 11:35:54 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190617113554_14113392/ <![CDATA[RNS press release - Annual Financial Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190614161310_14112129/ Fri, 14 Jun 2019 16:13:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190614161310_14112129/ <![CDATA[News - United Utilities loses operations chief Steve Fraser to Cadent Gas ]]> https://www.proactiveinvestors.co.uk/companies/news/222161/united-utilities-loses-operations-chief-steve-fraser-to-cadent-gas-222161.html Water company United Utilities Group PLC (LON:UU.) is losing its chief operating officer Steve Fraser, who has been poached to be the new boss of Cadent Gas.

Fraser, who has been at the FTSE 100 group for 14 years, will leave in the autumn, though the exact date is not yet confirmed.

READ: United Utilities turns up the tap on investment and dividends

UU chief executive Steve Mogford, who has been in place since 2011, hailed Fraser’s “significant contribution” to the operational progress the group has made and for developing a “strong and talented leadership team beneath him”.

He noted that the departure comes at a time when the industry is finishing the current five-year regulatory period with UU in a “strong position” for the next.

Water industry regulator Ofwat recently delivered its initial fast-track assessment of the company’s business plan for the next regulatory period, covering 2020 to 2025, setting out the prices the companies can charge over the coming years. Analysts said the regulator’s calculations included “slightly more conservative” estimates for both allowed returns and outperformance.

UU last month reported full-year underlying profits up 24% and pledged to increase investment by another £100mln.

Nationalisation themes

The sector has also been under pressure in recent months due rising political concerns, as the Labour party has outlined its plans to re-nationalise the industry, with reports indicating a Jeremy Corbyn-led government would not expect to pay any premium to shareholders.

At Cadent, chief financial officer Steve Hurrell, who stepped up to become interim CEO in February this year after Chris Train confirmed his plans to retire, will remain CEO until the autumn and then return to his role as CFO.

The gas distribution network, another industry that Labour wants to nationalise, last month said it was likely to cut up to 400 jobs, about 10% of its workforce, it it overhauls the business.

UU shares were up 0.5% to 828p on Friday afternoon. 

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Fri, 14 Jun 2019 14:41:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222161/united-utilities-loses-operations-chief-steve-fraser-to-cadent-gas-222161.html
<![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190614113043_14111720/ Fri, 14 Jun 2019 11:30:43 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190614113043_14111720/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190614093003_14111357/ Fri, 14 Jun 2019 09:30:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190614093003_14111357/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190531144143_14094599/ Fri, 31 May 2019 14:41:43 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190531144143_14094599/ <![CDATA[News - United Utilities turns up the tap on investment and dividends ]]> https://www.proactiveinvestors.co.uk/companies/news/220839/united-utilities-turns-up-the-tap-on-investment-and-dividends-220839.html Water company United Utilities Group PLC (LON:UU.) has said it is increasing investment after reporting results for a year when underlying profits jumped 24%.

The sector has been under pressure in recent weeks due to tougher regulatory rulings and rising political concerns, as the Labour party has outlined its re-nationalisation plans.

READ: Deutsche Bank waters down targets for United Utilities, Severn Trent and Pennon

Providing income-hungry investors with liquid rewards in Thursday’s results for the year to 31 March, the FTSE 100 group hiked its total dividend by 3.9% to 41.28p per share after increasing cash flow generation by 1.9% to £832mln.

UU's annual revenues rose 4.8% to £1.8bn and while reported operating profit was flat at £634.9mln, underlying profit after tax was 24% higher at £378.7mln as net regulatory capital spend was nudged up to £821mln.

For the current current regulatory period, UU said it anticipated an incentive reward of £16mln as, though net debt crept up to £7.1bn from £6.9bn a year ago, it enjoyed a low cost of debt compared with water regulator Ofwat's industry-wide assumptions and had delivered a strong performance on customer satisfaction scores.

Ofwat recently delivered its initial fast-track assessment of the company’s business plan for the next regulatory period, covering 2020 to 2025. This set out the prices the companies can charge over the coming years, which analysts said included “slightly more conservative” estimates for both allowed returns and outperformance.

UU chief executive Steve Mogford said the group will be increasing its additional investment by another £100mln “to accelerate the delivery of further performance improvements and facilitate a flying start to the next regulatory period”. 

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Thu, 23 May 2019 08:32:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220839/united-utilities-turns-up-the-tap-on-investment-and-dividends-220839.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190523070005_14084350/ Thu, 23 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190523070005_14084350/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190514112658_14073310/ Tue, 14 May 2019 11:26:58 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190514112658_14073310/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190513094002_14071377/ Mon, 13 May 2019 09:40:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190513094002_14071377/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190412125249_14039734/ Fri, 12 Apr 2019 12:52:49 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190412125249_14039734/ <![CDATA[RNS press release - Draft Determination for United Utilities ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190411092930_14037515/ Thu, 11 Apr 2019 09:29:30 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190411092930_14037515/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190402115000_14025673/ Tue, 02 Apr 2019 11:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190402115000_14025673/ <![CDATA[News - United Utilities says current trading in line with expectations but annual profits to be impacted by costs relating to dry summer of 2018 ]]> https://www.proactiveinvestors.co.uk/companies/news/217209/united-utilities-says-current-trading-in-line-with-expectations-but-annual-profits-to-be-impacted-by-costs-relating-to-dry-summer-of-2018-217209.html United Utilities Group PLC (LON:UU.) said its current trading is in line with expectations although its reported operating profit will be impacted by costs relating to the "exceptional" period of dry weather during the summer of 2018, coupled with pension and restructuring costs.

In a trading update, the FTSE 100-listed water firm said it will book exceptional items of £52mln for its year ending 31 March, of which £29mln was recognised in its interim results.

READ: United Utilities downgraded to ‘hold’ from ‘buy’ by Deutsche Bank on valuation grounds

On an underlying basis, the group said it expects its full-year operating profit to be higher than a year earlier, while revenue is expected also to be higher than last year, largely reflecting allowed regulatory revenue changes.

United Utilities said its finance expenses are expected to fall by around £45mln, while net debt will rise slightly from September 30 due to investment.

However, the group said its balance sheet is "strong", with gearing well within its 55% to 65% target range.

United Utilities also said it is "pleased" to have been given fast-track status by UK regulator Ofwat regarding its 2020 to 2025 business plan, getting the "highest grades" overall.

In early morning trading, shares in United Utilities were 1.2% to 847.20p.

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Tue, 26 Mar 2019 08:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217209/united-utilities-says-current-trading-in-line-with-expectations-but-annual-profits-to-be-impacted-by-costs-relating-to-dry-summer-of-2018-217209.html
<![CDATA[RNS press release - Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190326070004_14015116/ Tue, 26 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190326070004_14015116/ <![CDATA[News - United Utilities downgraded to ‘hold’ from ‘buy’ by Deutsche Bank on valuation grounds ]]> https://www.proactiveinvestors.co.uk/companies/news/217114/united-utilities-downgraded-to-hold-from-buy-by-deutsche-bank-on-valuation-grounds-217114.html Deutsche Bank has cut its stance for United Utilities PLC (LON:UU.) to ‘hold’ on valuation grounds leaving none of the listed UK regulated utilities on a ‘buy’ rating.

The German bank maintained its target price at 850p and UU shares dropped to that level on Tuesday, down 1.6% in mid-morning trading.

READ: Citigroup cuts United Utilities to ‘neutral’ from ‘buy’ after 12-month target price reached

In a note to clients, Deutsche Bank’s analysts pointed out: “United Utilities’ shares have risen strongly since our 1 October 2018 upgrade to Buy with rising confidence around future incentive scheme performance improvements and moderating concerns around political risk.”

“However,” the analysts added, “the stock now looks less clearly undervalued, having risen above our 850p price target. Furthermore, we believe that UK political uncertainty is rising again as the Brexit negotiations come to a head with growing downside risks.”

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Mon, 25 Mar 2019 10:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217114/united-utilities-downgraded-to-hold-from-buy-by-deutsche-bank-on-valuation-grounds-217114.html
<![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190312112900_13999151/ Tue, 12 Mar 2019 11:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190312112900_13999151/ <![CDATA[News - Citigroup cuts United Utilities to ‘neutral’ from ‘buy’ after 12-month target price reached ]]> https://www.proactiveinvestors.co.uk/companies/news/215809/citigroup-cuts-united-utilities-to-neutral-from-buy-after-12-month-target-price-reached-215809.html Citigroup has downgraded its rating for United Utilities Group PLC (LON:UU.) to ‘neutral’ from ‘buy’, with the stock having reached its 12-month target price of 878p.

In a note to clients, analysts at the US bank said: “In our view, the shares now trade close to its justified RAV premium and is now fairly valued.”

READ: United Utilities first-half earnings jump boosted by lower costs and regulator incentives

They added: “From a regulatory perspective, barring any unexpected movement on the final allowed WACC (December) and operational targets (April), we essentially have regulatory clarity, to a large part, until 2025.

“For us, United Utilities must now work to deliver what appears to be a set of challenging cost reduction targets, reducing the historic costs by 20% in order to meet its forward-looking cost targets.”

The analysts also pointed out that nationalisation risk is subsiding.

They concluded: “While the UK political landscape and public opinions remain fluid, the recent fall in the Labour Party popularity in the opinion polls does highlight the subsiding risks of nationalization, at least for now, in our view.”

In late morning trading, shares in United Utilities were 0.4% higher at 848.20p, still below the Citigroup's target price.

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Tue, 05 Mar 2019 11:34:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215809/citigroup-cuts-united-utilities-to-neutral-from-buy-after-12-month-target-price-reached-215809.html
<![CDATA[RNS press release - Replacement: Publication of Final Terms ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190215180142_13971768/ Fri, 15 Feb 2019 18:01:42 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190215180142_13971768/ <![CDATA[RNS press release - Publication of Final Terms ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190212145337_13966872/ Tue, 12 Feb 2019 14:53:37 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190212145337_13966872/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190212144850_13966868/ Tue, 12 Feb 2019 14:48:50 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190212144850_13966868/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190204142206_13957480/ Mon, 04 Feb 2019 14:22:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190204142206_13957480/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190131122021_13953821/ Thu, 31 Jan 2019 12:20:21 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190131122021_13953821/ <![CDATA[RNS press release - United Utilities Achieves Fast Track Status ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190131074501_13953168/ Thu, 31 Jan 2019 07:45:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190131074501_13953168/ <![CDATA[RNS press release - Publication of Final Terms ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190128170833_13949313/ Mon, 28 Jan 2019 17:08:33 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190128170833_13949313/ <![CDATA[RNS press release - Publication of Final Terms ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190121141047_13941588/ Mon, 21 Jan 2019 14:10:47 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190121141047_13941588/ <![CDATA[RNS press release - Key Corporate Dates ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190115144924_13935415/ Tue, 15 Jan 2019 14:49:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190115144924_13935415/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190114133243_13933871/ Mon, 14 Jan 2019 13:32:43 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20190114133243_13933871/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181212115927_13901230/ Wed, 12 Dec 2018 11:59:27 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181212115927_13901230/ <![CDATA[RNS press release - Publication of final terms ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181121163751_13876040/ Wed, 21 Nov 2018 16:37:51 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181121163751_13876040/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181121144644_13875883/ Wed, 21 Nov 2018 14:46:44 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181121144644_13875883/ <![CDATA[News - United Utilities first-half earnings jump boosted by lower costs and regulator incentives ]]> https://www.proactiveinvestors.co.uk/companies/news/209649/united-utilities-first-half-earnings-jump-boosted-by-lower-costs-and-regulator-incentives-209649.html United Utilities PLC (LON:UU.) saw its first-half earnings jump boosted by lower costs and incentives from the UK water regulator.

The FTSE 100-listed firm said its underlying pre-tax profit rose by 23.7% to £240.3mln for the six months to September 30, up from £194.3mln a year earlier, helped by lower net financing costs.

READ: United Utilities seen as sector ‘stand out’ as Deutsche upgrades

The company, which supplies water in the North West of England, saw its revenue increase to £916.4mln, up from £876mln a year earlier, which largely reflected allowed regulatory revenue changes.

Steve Mogford, UU’s chief executive officer, said: "The significant progress we have made positions us well for the remainder of the current regulatory period and beyond.

“We have responded well to the challenges brought about by the impact of more variable weather and have created a platform for continuing strong operational performance.”

The group hiked its interim dividend by 3.9% to 13.76p per share, up from 13.24p a year earlier.

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Wed, 21 Nov 2018 08:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209649/united-utilities-first-half-earnings-jump-boosted-by-lower-costs-and-regulator-incentives-209649.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181121070002_13874266/ Wed, 21 Nov 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181121070002_13874266/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181113103830_13864994/ Tue, 13 Nov 2018 10:38:30 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181113103830_13864994/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181015155107_13829339/ Mon, 15 Oct 2018 15:51:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181015155107_13829339/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181002154301_13813714/ Tue, 02 Oct 2018 15:43:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20181002154301_13813714/ <![CDATA[News - United Utilities seen as sector ‘stand out’ as Deutsche upgrades ]]> https://www.proactiveinvestors.co.uk/companies/news/206090/united-utilities-seen-as-sector-stand-out-as-deutsche-upgrades-206090.html United Utilities Plc (LON:UU) has been upgraded by Deutsche Bank with the FTSE 100 constituent described as a ‘stand out’ among the peer group.

The German bank’s new ‘buy’ rating comes with a 850p price target, up from 820p, suggesting some 18% upside to the current price of around 720p.

Specifically, Deutsche sees the share as being a value opportunity following recent weakness in the share price.

READ: Monday’s stock market movers

“The renewed decline in the share price takes it back towards multi-year lows although the company is articulating a more constructive message around its prospective performance and recent regulatory disclosure surprised us positively,” Deutsche said.

“Political and regulatory risks remain significant although the stock now trades at a 1% discount to RAB (Regulatory Asset Base) which we believe skews risks to the upside if the company can improve its performance or if political risks fade.”

In London, United Utilities shares were up 16.2p or 2.3% changing hands at 720.2p.

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Mon, 01 Oct 2018 12:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206090/united-utilities-seen-as-sector-stand-out-as-deutsche-upgrades-206090.html
<![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20180928144940_13809506/ Fri, 28 Sep 2018 14:49:40 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20180928144940_13809506/ <![CDATA[RNS press release - Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20180928070003_13807902/ Fri, 28 Sep 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20180928070003_13807902/ <![CDATA[RNS press release - Capital Markets Event ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20180927070004_13806139/ Thu, 27 Sep 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20180927070004_13806139/ <![CDATA[RNS press release - Director Declaration ]]> https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20180925091015_13803453/ Tue, 25 Sep 2018 09:10:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3132/LSE20180925091015_13803453/