ECP ControlCo LLC Has $37.08 Million Stock Position in Shenandoah Telecommunications Co $SHEN

ECP ControlCo LLC boosted its stake in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 10.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,714,371 shares of the utilities provider’s stock after buying an additional 261,987 shares during the quarter. Shenandoah Telecommunications makes up about 26.2% of ECP ControlCo LLC’s investment portfolio, making the stock its 2nd largest position. ECP ControlCo LLC’s holdings in Shenandoah Telecommunications were worth $37,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Shenandoah Telecommunications by 80.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock valued at $68,000 after acquiring an additional 2,228 shares during the period. Bridgeway Capital Management LLC acquired a new stake in shares of Shenandoah Telecommunications during the 2nd quarter worth about $1,574,000. Raymond James Financial Inc. bought a new position in Shenandoah Telecommunications during the 2nd quarter valued at about $76,000. The Manufacturers Life Insurance Company lifted its holdings in Shenandoah Telecommunications by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 986 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Shenandoah Telecommunications by 5.3% in the second quarter. Gamco Investors INC. ET AL now owns 263,126 shares of the utilities provider’s stock valued at $3,594,000 after buying an additional 13,126 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BWS Financial reiterated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.00.

Shenandoah Telecommunications Price Performance

Shares of SHEN stock opened at $11.72 on Friday. Shenandoah Telecommunications Co has a 1 year low of $9.66 and a 1 year high of $15.84. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $11.79 and its 200-day moving average is $13.02. The firm has a market capitalization of $643.43 million, a price-to-earnings ratio of -18.60 and a beta of 0.85.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, October 29th. The utilities provider reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. Shenandoah Telecommunications had a negative net margin of 9.98% and a negative return on equity of 4.25%. The business had revenue of $89.80 million during the quarter, compared to analyst estimates of $90.95 million. Sell-side analysts forecast that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Shenandoah Telecommunications Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were paid a dividend of $0.11 per share. This represents a dividend yield of 101.0%. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.10. The ex-dividend date of this dividend was Friday, November 7th. Shenandoah Telecommunications’s payout ratio is currently -17.46%.

Shenandoah Telecommunications Profile

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.