Energy Services of America (NASDAQ:ESOA) Now Covered by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of Energy Services of America (NASDAQ:ESOA) in a research note released on Monday, Marketbeat reports. The firm issued a buy rating and a $21.00 price objective on the stock.

Energy Services of America Trading Up 13.0%

Energy Services of America stock opened at $9.49 on Monday. The business’s 50-day simple moving average is $9.11 and its 200 day simple moving average is $11.52. Energy Services of America has a 12-month low of $5.89 and a 12-month high of $19.83.

Energy Services of America (NASDAQ:ESOA) last issued its earnings results on Monday, May 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.51). The business had revenue of $76.68 million during the quarter, compared to analysts’ expectations of $80.00 million.

Energy Services of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Monday, March 31st. Energy Services of America’s dividend payout ratio (DPR) is currently 65.57%.

Hedge Funds Weigh In On Energy Services of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in Energy Services of America by 15.9% during the first quarter. Goldman Sachs Group Inc. now owns 50,543 shares of the company’s stock worth $478,000 after buying an additional 6,917 shares during the last quarter. PharVision Advisers LLC bought a new position in Energy Services of America during the first quarter worth about $101,000. Needham Investment Management LLC raised its position in shares of Energy Services of America by 33.3% during the first quarter. Needham Investment Management LLC now owns 100,000 shares of the company’s stock worth $945,000 after purchasing an additional 25,000 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Energy Services of America during the first quarter worth about $809,000. Finally, Quarry LP acquired a new stake in shares of Energy Services of America during the first quarter worth about $36,000. Institutional investors own 2.13% of the company’s stock.

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.