The investigations of surface waves in the piezoelectric medium bring out great possibility in designing smart surface acoustic wave (SAW) devices. It is important to study the dispersion properties and manipulation mechanism of surface waves in the semi-infinite piezoelectric medium connected with periodic arrangement of shunting circuits. In this study, the extended Stroh formalism is developed to theoretically analyze the dispersion relations of surface waves under different external circuits. The band structures of both the Rayleigh wave and the Bleustein-Gulyaev (BG) wave can be determined and manipulated with proper electrical boundary conditions. Furthermore, the electromechanical coupling effects on the band structures of surface waves are discussed to figure out the manipulation mechanism of adjusting electric circuit. The results indicate that the proposed method can explain the propagation behaviors of surface waves under the periodic electrical boundary conditions, and can provide an important theoretical guidance for designing novel SAW devices and exploring extensive applications in practice.