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

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

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

Shenandoah Telecommunications Price Performance

Shares of NASDAQ SHEN opened at $12.93 on Wednesday. The firm’s 50-day moving average price is $14.20 and its 200-day moving average price is $15.90. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $24.22. The firm 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 current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36.

Shenandoah Telecommunications Increases Dividend

The firm 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. The ex-dividend date is Tuesday, November 5th. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a dividend yield of 0.66%. Shenandoah Telecommunications’s payout ratio is presently 2.57%.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently made changes to their positions in SHEN. nVerses Capital LLC bought a new stake in shares of Shenandoah Telecommunications during the third quarter worth about $37,000. GAMMA Investing LLC grew its position in Shenandoah Telecommunications by 85.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 2,115 shares in the last quarter. Quantbot Technologies LP grew its position in Shenandoah Telecommunications by 570.2% in the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 6,244 shares in the last quarter. Quest Partners LLC grew its position in Shenandoah Telecommunications by 741.0% in the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 6,728 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Shenandoah Telecommunications in the 1st quarter worth about $109,000. 61.96% of the stock is owned by 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.