WTRG - Essential Utilities Takes Environmental Lead in Water Nears Natural Gas Integration
The S&P 500 declined by double digits in the last week of February as investors grappled with the reality of the coronavirus outbreak. Even if the illness doesn't become the worst-case scenario originally feared (and encouragingly, it appears to be much less severe than feared), efforts to contain the outbreak will have a significant impact on economic growth.
The market's worst sell-off in years just so happened to occur simultaneously with the release of full-year 2019 operating results from many companies. For instance, Essential Utilities (NYSE: WTRG) reported solid results for 2019 and issued guidance for 2020. It even committed to going above and beyond industry standards for water treatment and carbon emissions.
While the company is in the midst of an exciting transition period, broader economic concerns overshadowed its progress. In fact, shares of the dividend stock had their worst weekly performance in over a decade (and perhaps ever). Here's what investors need to know.