Energy Services of America (NASDAQ:ESOA) Releases Earnings Results, Misses Estimates By $0.13 EPS

Energy Services of America (NASDAQ:ESOA) issued its quarterly earnings data on Tuesday. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.13), Zacks reports.

Energy Services of America Stock Performance

Shares of ESOA stock traded up $0.10 during trading hours on Tuesday, reaching $8.63. The company had a trading volume of 154,648 shares, compared to its average volume of 216,748. Energy Services of America has a 1-year low of $7.64 and a 1-year high of $19.83. The company has a 50 day moving average of $10.02 and a 200 day moving average of $10.12.

Energy Services of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, October 6th were given a dividend of $0.03 per share. The ex-dividend date was Monday, October 6th. This represents a $0.12 annualized dividend and a dividend yield of 1.4%. Energy Services of America’s payout ratio is presently 65.57%.

Institutional Investors Weigh In On Energy Services of America

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in Energy Services of America by 3.8% in the 2nd quarter. First Trust Advisors LP now owns 36,160 shares of the company’s stock valued at $359,000 after purchasing an additional 1,332 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Energy Services of America in the second quarter valued at about $156,000. XTX Topco Ltd acquired a new position in shares of Energy Services of America in the second quarter valued at about $161,000. Geode Capital Management LLC increased its position in Energy Services of America by 111.3% during the second quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock worth $2,661,000 after acquiring an additional 140,986 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Energy Services of America by 15.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 50,543 shares of the company’s stock worth $478,000 after purchasing an additional 6,917 shares in the last quarter. Institutional investors and hedge funds own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Energy Services of America in a report on Wednesday, October 8th. Wall Street Zen raised shares of Energy Services of America from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Energy Services of America Company Profile

Energy Services of America Corporation, together with its subsidiaries, provides contracting services for utilities and energy related companies in the United States. The company constructs, replaces, and repairs interstate and intrastate natural gas pipelines and storage facilities for utility companies and private natural gas companies; and provides services relating to pipeline, storage facilities, and plant works.