Shenandoah Telecommunications’ (SHEN) Buy Rating Reiterated at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $26.00 price objective on the utilities provider’s stock.

Separately, StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th.

Shenandoah Telecommunications Stock Down 1.3 %

Shenandoah Telecommunications stock opened at $12.93 on Wednesday. Shenandoah Telecommunications has a twelve month low of $11.87 and a twelve month high of $24.22. The firm has a 50 day moving average price of $14.20 and a 200-day moving average price of $15.90. The company has a market capitalization of $705.98 million, a P/E ratio of 3.32 and a beta of 0.67. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36.

Shenandoah Telecommunications Increases Dividend

The business also recently announced an annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.10 per share. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio is currently 2.57%.

Institutional Trading of Shenandoah Telecommunications

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Shenandoah Telecommunications by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock valued at $95,328,000 after buying an additional 51,697 shares in the last quarter. GCM Grosvenor Holdings LLC purchased a new stake in shares of Shenandoah Telecommunications during the 2nd quarter valued at approximately $66,959,000. Dimensional Fund Advisors LP lifted its stake in shares of Shenandoah Telecommunications by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock valued at $42,070,000 after buying an additional 29,413 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Shenandoah Telecommunications by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock valued at $7,621,000 after buying an additional 13,776 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Shenandoah Telecommunications by 11.5% during the 2nd quarter. Gabelli Funds LLC now owns 140,500 shares of the utilities provider’s stock valued at $2,294,000 after buying an additional 14,500 shares in the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.