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

Wall Street Zen downgraded shares of Energy Services of America (NASDAQ:ESOA) from a buy rating to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Energy Services of America in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Energy Services of America currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Energy Services of America Stock Performance

Shares of NASDAQ:ESOA traded down $0.08 during trading on Friday, hitting $10.11. The company’s stock had a trading volume of 73,973 shares, compared to its average volume of 218,429. Energy Services of America has a fifty-two week low of $7.64 and a fifty-two week high of $19.83. The business has a 50 day moving average price of $10.43 and a two-hundred day moving average price of $10.16.

Energy Services of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, October 6th were given a $0.03 dividend. The ex-dividend date was Monday, October 6th. This represents a $0.12 annualized dividend and a yield of 1.2%. Energy Services of America’s payout ratio is 65.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Energy Services of America by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 613,541 shares of the company’s stock worth $6,350,000 after buying an additional 11,798 shares during the period. Balyasny Asset Management L.P. grew its holdings 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 purchasing an additional 127,016 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Energy Services of America by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 324,780 shares of the company’s stock valued at $3,362,000 after purchasing an additional 3,952 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 140,986 shares in the last quarter. Finally, EHP Funds Inc. acquired a new stake in shares of Energy Services of America during the 2nd quarter valued at about $1,112,000. 2.13% of the stock is owned by hedge funds and other institutional investors.

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.