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Campaigns / Spruce Point Capital → Essential Utilities, Inc.
Spruce Point Capital vs. Essential Utilities, Inc.

Essential Utilities, Inc. · WTRG

1 deck published between 2023-03-08 and 2023-03-08 — 91 pages, 91 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2023-03-08 initial thesis

    2023 03 69022b2b34faf10fcb81201d_wtrg_research_thesis_3 8 2023

    91pp · full_deck

    WTRG's water roll-up is failing and its $4.3bn Peoples gas pivot is a Ponzi-like dividend trap; 35%-50% downside to $20-$28 on sum-of-parts.