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

Energy Services of America (NASDAQ:ESOA) issued its earnings results on Tuesday. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.13), Zacks reports. The business had revenue of $130.07 million during the quarter, compared to analyst estimates of $109.20 million.

Energy Services of America Price Performance

Shares of NASDAQ:ESOA traded up $0.17 during mid-day trading on Wednesday, reaching $8.80. The stock had a trading volume of 95,948 shares, compared to its average volume of 216,187. The business’s 50 day moving average price is $9.99 and its 200 day moving average price is $10.11. Energy Services of America has a 1 year low of $7.64 and a 1 year high of $19.83.

Energy Services of America Announces Dividend

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

Institutional Trading of Energy Services of America

A number of large investors have recently modified their holdings of ESOA. Vanguard Group Inc. grew its position in shares of Energy Services of America by 2.0% in the third quarter. Vanguard Group Inc. now owns 613,541 shares of the company’s stock valued at $6,350,000 after purchasing an additional 11,798 shares in the last quarter. Millennium Management LLC grew its holdings in Energy Services of America by 90.4% in the 3rd quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after buying an additional 181,631 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Energy Services of America by 51.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock worth $3,709,000 after acquiring an additional 127,016 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Energy Services of America by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 324,780 shares of the company’s stock worth $3,362,000 after acquiring an additional 3,952 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Energy Services of America by 111.3% during the 2nd 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. Hedge funds and other institutional investors own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

ESOA has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Energy Services of America in a research note on Wednesday, October 8th. Wall Street Zen raised Energy Services of America from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

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.