Hexavest Inc. boosted its stake in shares of Frontier Communications Corp (NASDAQ:FTR) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,355,403 shares of the utilities provider’s stock after buying an additional 351,596 shares during the period. Hexavest Inc. owned 0.71% of Frontier Communications Corp worth $17,881,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Frontier Communications Corp by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 67,244 shares of the utilities provider’s stock worth $227,000 after buying an additional 246 shares during the last quarter. Willingdon Wealth Management increased its position in shares of Frontier Communications Corp by 2,658.4% in the third quarter. Willingdon Wealth Management now owns 522,091 shares of the utilities provider’s stock worth $2,172,000 after buying an additional 503,164 shares during the last quarter. Comerica Bank increased its position in shares of Frontier Communications Corp by 1.7% in the fourth quarter. Comerica Bank now owns 301,680 shares of the utilities provider’s stock worth $1,068,000 after buying an additional 4,949 shares during the last quarter. BlackRock Inc. increased its position in shares of Frontier Communications Corp by 3.1% in the third quarter. BlackRock Inc. now owns 2,327,625 shares of the utilities provider’s stock worth $9,684,000 after buying an additional 68,907 shares during the last quarter. Finally, Dynamic Capital Management Ltd increased its position in shares of Frontier Communications Corp by 69.7% in the third quarter. Dynamic Capital Management Ltd now owns 814,862 shares of the utilities provider’s stock worth $3,390,000 after buying an additional 334,675 shares during the last quarter. Institutional investors and hedge funds own 67.26% of the company’s stock.

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

Shares of Frontier Communications Corp (NASDAQ:FTR) traded up 0.52% during mid-day trading on Friday, reaching $1.93. The company’s stock had a trading volume of 16,775,040 shares. Frontier Communications Corp has a 52 week low of $1.84 and a 52 week high of $5.70. The firm’s market capitalization is $2.26 billion. The firm has a 50-day moving average of $2.25 and a 200-day moving average of $3.23.

Frontier Communications Corp (NASDAQ:FTR) last issued its earnings results on Monday, February 27th. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. Frontier Communications Corp had a negative net margin of 5.01% and a positive return on equity of 2.05%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the company posted $0.05 earnings per share. Frontier Communications Corp’s revenue was up 70.5% on a year-over-year basis. Equities research analysts forecast that Frontier Communications Corp will post ($0.18) earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a $0.105 dividend. The ex-dividend date of this dividend was Monday, March 13th. This represents a $0.42 dividend on an annualized basis and a yield of 21.88%. Frontier Communications Corp’s dividend payout ratio is currently -77.78%.

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FTR has been the topic of a number of analyst reports. Citigroup Inc reduced their price objective on Frontier Communications Corp from $2.25 to $1.75 and set a “sell” rating on the stock in a research report on Monday, March 20th. JPMorgan Chase & Co. cut Frontier Communications Corp from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $2.96 to $2.51 in a research note on Tuesday, February 28th. Morgan Stanley raised their target price on Frontier Communications Corp from $2.30 to $4.20 and gave the stock an “equal weight” rating in a research note on Thursday, March 30th. TheStreet cut Frontier Communications Corp from a “c-” rating to a “d+” rating in a research note on Monday, February 27th. Finally, Jefferies Group LLC cut their target price on Frontier Communications Corp from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.73.

Frontier Communications Corp Company Profile

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).

5 Day Chart for NASDAQ:FTR

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