Louisiana State Employees Retirement System increased its stake in shares of Frontier Communications Corporation (NASDAQ:FTR) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 306,000 shares of the utilities provider’s stock after buying an additional 9,800 shares during the period. Louisiana State Employees Retirement System’s holdings in Frontier Communications Corporation were worth $355,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTR. Personal Capital Advisors Corp acquired a new stake in shares of Frontier Communications Corporation during the first quarter valued at about $408,000. Nationwide Fund Advisors boosted its stake in shares of Frontier Communications Corporation by 128.1% in the first quarter. Nationwide Fund Advisors now owns 2,123,349 shares of the utilities provider’s stock valued at $4,544,000 after buying an additional 1,192,654 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Frontier Communications Corporation by 164.6% in the first quarter. Retirement Systems of Alabama now owns 1,514,455 shares of the utilities provider’s stock valued at $3,241,000 after buying an additional 942,199 shares in the last quarter. Hexavest Inc. boosted its stake in shares of Frontier Communications Corporation by 4.4% in the first quarter. Hexavest Inc. now owns 8,355,403 shares of the utilities provider’s stock valued at $17,881,000 after buying an additional 351,596 shares in the last quarter. Finally, Bollard Group LLC boosted its stake in shares of Frontier Communications Corporation by 5.0% in the first quarter. Bollard Group LLC now owns 89,879 shares of the utilities provider’s stock valued at $192,000 after buying an additional 4,288 shares in the last quarter.

Shares of Frontier Communications Corporation (NASDAQ:FTR) traded down 0.802% during trading on Wednesday, hitting $14.225. 921,992 shares of the stock were exchanged. Frontier Communications Corporation has a one year low of $13.13 and a one year high of $73.05. The stock’s 50 day moving average price is $14.54 and its 200-day moving average price is $5.26. The company’s market cap is $1.12 billion.

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. On average, analysts predict that Frontier Communications Corporation will post ($3.93) EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 16.74%. This is an increase from Frontier Communications Corporation’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 14th. Frontier Communications Corporation’s payout ratio is -16.65%.

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Several analysts have recently issued reports on the stock. UBS AG cut shares of Frontier Communications Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $3.50 to $2.00 in a research report on Wednesday, May 3rd. Hilliard Lyons cut shares of Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $16.00 target price on shares of Frontier Communications Corporation in a research report on Tuesday, August 8th. Cowen and Company restated a “market perform” rating on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.11.

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).

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

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