MML Investors Services LLC boosted its stake in Frontier Communications Corporation (NASDAQ:FTR) by 204.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,366 shares of the utilities provider’s stock after purchasing an additional 79,473 shares during the quarter. MML Investors Services LLC owned about 0.15% of Frontier Communications Corporation worth $137,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Coatue Management LLC purchased a new stake in shares of Frontier Communications Corporation during the 2nd quarter valued at about $8,223,000. Vanguard Group Inc. raised its position in shares of Frontier Communications Corporation by 9.9% during the 2nd quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock valued at $135,488,000 after buying an additional 10,474,703 shares in the last quarter. Northern Trust Corp raised its position in shares of Frontier Communications Corporation by 43.8% during the 2nd quarter. Northern Trust Corp now owns 17,209,093 shares of the utilities provider’s stock valued at $19,963,000 after buying an additional 5,238,840 shares in the last quarter. Pinebridge Investments L.P. raised its position in shares of Frontier Communications Corporation by 1,200.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 720,872 shares of the utilities provider’s stock valued at $836,000 after buying an additional 665,444 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Frontier Communications Corporation during the 2nd quarter valued at about $113,000.

Frontier Communications Corporation (NASDAQ:FTR) opened at 12.20 on Friday. Frontier Communications Corporation has a 52 week low of $11.65 and a 52 week high of $64.35. The company’s market capitalization is $957.90 million. The firm has a 50-day moving average of $12.78 and a 200-day moving average of $19.09.

Frontier Communications Corporation (NASDAQ:FTR) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.03). The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. Frontier Communications Corporation’s revenue was down 11.7% on a year-over-year basis. During the same period last year, the firm posted ($0.29) earnings per share. Analysts anticipate that Frontier Communications Corporation will post ($4.13) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 19.67%. This is an increase from Frontier Communications Corporation’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, September 14th. Frontier Communications Corporation’s payout ratio is -16.65%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/frontier-communications-corporation-ftr-shares-bought-by-mml-investors-services-llc/1614783.html.

Several brokerages have recently issued reports on FTR. Zacks Investment Research cut shares of Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada restated a “hold” rating and set a $16.00 target price on shares of Frontier Communications Corporation in a research report on Sunday, September 17th. BidaskClub cut shares of Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, September 16th. ValuEngine cut shares of Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, Morgan Stanley decreased their target price on shares of Frontier Communications Corporation to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 23rd. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Frontier Communications Corporation presently has an average rating of “Hold” and a consensus target price of $7.02.

About Frontier Communications Corporation

Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

Want to see what other hedge funds are holding FTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Frontier Communications Corporation (NASDAQ:FTR).

Institutional Ownership by Quarter for Frontier Communications Corporation (NASDAQ:FTR)

Receive News & Ratings for Frontier Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.