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  "documentTitle": "Essential Utilities, Inc. (WTRG)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-03-08 00:00:00",
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      "text": "Style Drift\nEvidence That WTRG's Levered Acquisition Of Peoples Natural Gas Was Done To Avoid Missing Wall Street Expectations\nAnd\nIs Falling Below Plan\nAnd\nReceived A Critical Independent Audit Review\nA Poorly Timed Deal As Temperatures Rise And ESG Is Becoming A Big Factor\nEmployee Turnover Is Rising",
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      "text": "allowance for bad debts: 29%",
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      "text": "Beware when a company diversifies away from its core business. In October 2018, WTRG announced the $4.3 billion dollar acquisition of Peoples... [detailed forensic analysis of financial and operational decline]",
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      "text": "In only 5 out of 22 categories (27%) scored by the audit did WTRG/Peoples receive a mark that it \"Meets Expected Performance Levels\". — Pennsylvania Public Utility Commission (\"PUC\")",
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