Energy Services of America (NASDAQ:ESOA) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Energy Services of America (NASDAQ:ESOA) from a buy rating to a hold rating in a research note released on Sunday morning.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Energy Services of America in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Energy Services of America Price Performance

ESOA stock opened at $8.70 on Friday. The stock has a 50-day moving average price of $9.90 and a 200-day moving average price of $10.07. Energy Services of America has a 1-year low of $7.64 and a 1-year high of $19.83.

Energy Services of America (NASDAQ:ESOA) last released its earnings results on Tuesday, December 9th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.13). The company had revenue of $130.07 million during the quarter, compared to analyst estimates of $109.20 million.

Energy Services of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, October 6th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, October 6th. Energy Services of America’s dividend payout ratio (DPR) is currently 65.57%.

Institutional Trading of Energy Services of America

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of Energy Services of America by 90.4% during the third quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after purchasing an additional 181,631 shares in the last quarter. Geode Capital Management LLC increased its stake in Energy Services of America by 111.3% in the 2nd quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock valued at $2,661,000 after buying an additional 140,986 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Energy Services of America by 51.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock worth $3,709,000 after buying an additional 127,016 shares in the last quarter. EHP Funds Inc. purchased a new position in shares of Energy Services of America in the 2nd quarter worth approximately $1,112,000. Finally, Ancora Advisors LLC bought a new position in shares of Energy Services of America in the first quarter valued at approximately $809,000. Institutional investors own 2.13% of the company’s stock.

About Energy Services of America

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.