LPL Financial LLC increased its position in Icahn Enterprises L.P. (NASDAQ:IEP – Free Report) by 9.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,342 shares of the conglomerate’s stock after buying an additional 13,730 shares during the quarter. LPL Financial LLC’s holdings in Icahn Enterprises were worth $7,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in Icahn Enterprises by 53.0% during the 4th quarter. Morgan Stanley now owns 837,448 shares of the conglomerate’s stock worth $42,417,000 after buying an additional 290,199 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Icahn Enterprises by 4,112.8% in the first quarter. BNP Paribas Arbitrage SA now owns 334,579 shares of the conglomerate’s stock valued at $17,375,000 after acquiring an additional 326,637 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Icahn Enterprises by 4.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 298,376 shares of the conglomerate’s stock valued at $15,113,000 after purchasing an additional 14,057 shares during the period. Geode Capital Management LLC raised its holdings in Icahn Enterprises by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 261,574 shares of the conglomerate’s stock worth $13,248,000 after purchasing an additional 15,649 shares during the last quarter. Finally, Private Capital Advisors Inc. acquired a new position in shares of Icahn Enterprises in the 4th quarter worth approximately $11,251,000. Institutional investors own 86.50% of the company’s stock.
Icahn Enterprises Stock Up 2.2 %
Shares of NASDAQ IEP opened at $19.87 on Wednesday. The company has a quick ratio of 5.70, a current ratio of 5.70 and a debt-to-equity ratio of 0.98. The firm has a market cap of $7.82 billion, a PE ratio of -7.70 and a beta of 0.85. The company’s fifty day simple moving average is $27.99 and its 200 day simple moving average is $38.04. Icahn Enterprises L.P. has a 12-month low of $18.03 and a 12-month high of $55.10.
Icahn Enterprises (NASDAQ:IEP – Get Free Report) last released its quarterly earnings data on Friday, August 4th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.97). Icahn Enterprises had a negative return on equity of 10.45% and a negative net margin of 7.77%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.66 billion. As a group, sell-side analysts forecast that Icahn Enterprises L.P. will post -0.74 earnings per share for the current fiscal year.
Icahn Enterprises Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Friday, August 18th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $4.00 annualized dividend and a dividend yield of 20.13%. Icahn Enterprises’s dividend payout ratio is -155.04%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Icahn Enterprises in a research note on Thursday, August 17th. They set a “hold” rating for the company. TheStreet downgraded Icahn Enterprises from a “c-” rating to a “d” rating in a research note on Monday, May 22nd. Finally, Jefferies Financial Group decreased their target price on Icahn Enterprises from $43.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, August 7th.
About Icahn Enterprises
Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. Its Investment segment invests its proprietary capital through various private investment funds. The company’s Energy segment refines and markets transportation fuels; and produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia.