Frontier Communications Corporation (FTR) Position Increased by Nationwide Fund Advisors

Nationwide Fund Advisors boosted its position in shares of Frontier Communications Corporation (NASDAQ:FTR) by 34.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,850,061 shares of the utilities provider’s stock after purchasing an additional 726,712 shares during the quarter. Nationwide Fund Advisors owned about 3.66% of Frontier Communications Corporation worth $3,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Frontier Communications Corporation by 4,683.4% during the 1st quarter. BlackRock Inc. now owns 116,003,627 shares of the utilities provider’s stock valued at $248,246,000 after purchasing an additional 113,578,500 shares during the last quarter. First Trust Advisors LP lifted its stake in Frontier Communications Corporation by 101.4% during the 2nd quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock valued at $49,581,000 after acquiring an additional 21,522,621 shares during the period. Bank of New York Mellon Corp lifted its stake in Frontier Communications Corporation by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock valued at $29,738,000 after acquiring an additional 1,757,905 shares during the period. Morgan Stanley lifted its stake in Frontier Communications Corporation by 133.9% during the 1st quarter. Morgan Stanley now owns 10,376,683 shares of the utilities provider’s stock valued at $22,207,000 after acquiring an additional 5,941,074 shares during the period. Finally, Legal & General Group Plc lifted its stake in Frontier Communications Corporation by 7.4% during the 1st quarter. Legal & General Group Plc now owns 7,859,853 shares of the utilities provider’s stock valued at $16,820,000 after acquiring an additional 539,980 shares during the period.

Several research firms have issued reports on FTR. Hilliard Lyons cut shares of Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 9th. Deutsche Bank AG lowered their target price on shares of Frontier Communications Corporation from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday. UBS AG restated a “neutral” rating and set a $15.00 target price on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Morgan Stanley lowered their target price on shares of Frontier Communications Corporation to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 23rd. Finally, BidaskClub cut shares of Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 16th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.02.

COPYRIGHT VIOLATION NOTICE: “Frontier Communications Corporation (FTR) Position Increased by Nationwide Fund Advisors” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/11/frontier-communications-corporation-ftr-position-increased-by-nationwide-fund-advisors.html.

Frontier Communications Corporation (FTR) opened at 12.38 on Wednesday. Frontier Communications Corporation has a 52 week low of $11.65 and a 52 week high of $63.90. The company’s market cap is $972.03 million. The stock has a 50 day moving average of $12.74 and a 200 day moving average of $18.62.

Frontier Communications Corporation (NASDAQ:FTR) last issued its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.07) by ($0.03). The firm 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 quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) EPS. Equities research analysts predict that Frontier Communications Corporation will post ($4.13) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Frontier Communications Corporation by 4,683.4% during the 1st quarter. BlackRock Inc. now owns 116,003,627 shares of the utilities provider’s stock valued at $248,246,000 after purchasing an additional 113,578,500 shares during the last quarter. First Trust Advisors LP lifted its stake in Frontier Communications Corporation by 101.4% during the 2nd quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock valued at $49,581,000 after acquiring an additional 21,522,621 shares during the period. Bank of New York Mellon Corp lifted its stake in Frontier Communications Corporation by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock valued at $29,738,000 after acquiring an additional 1,757,905 shares during the period. Morgan Stanley lifted its stake in Frontier Communications Corporation by 133.9% during the 1st quarter. Morgan Stanley now owns 10,376,683 shares of the utilities provider’s stock valued at $22,207,000 after acquiring an additional 5,941,074 shares during the period. Finally, Legal & General Group Plc lifted its stake in Frontier Communications Corporation by 7.4% during the 1st quarter. Legal & General Group Plc now owns 7,859,853 shares of the utilities provider’s stock valued at $16,820,000 after acquiring an additional 539,980 shares during the period.

Several research firms have issued reports on FTR. Hilliard Lyons cut shares of Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 9th. Deutsche Bank AG lowered their target price on shares of Frontier Communications Corporation from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday. UBS AG restated a “neutral” rating and set a $15.00 target price on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Morgan Stanley lowered their target price on shares of Frontier Communications Corporation to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 23rd. Finally, BidaskClub cut shares of Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 16th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.02.

COPYRIGHT VIOLATION NOTICE: “Frontier Communications Corporation (FTR) Position Increased by Nationwide Fund Advisors” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/11/frontier-communications-corporation-ftr-position-increased-by-nationwide-fund-advisors.html.

Frontier Communications Corporation (FTR) opened at 12.38 on Wednesday. Frontier Communications Corporation has a 52 week low of $11.65 and a 52 week high of $63.90. The company’s market cap is $972.03 million. The stock has a 50 day moving average of $12.74 and a 200 day moving average of $18.62.

Frontier Communications Corporation (NASDAQ:FTR) last issued its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.07) by ($0.03). The firm 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 quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) EPS. Equities research analysts predict that Frontier Communications Corporation will post ($4.13) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.40 dividend on an annualized basis and a yield of 19.39%. This is a positive change from Frontier Communications Corporation’s previous quarterly dividend of $0.04. Frontier Communications Corporation’s dividend payout ratio is currently -16.65%.

Frontier Communications Corporation 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).

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

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