Raymond James & Associates Acquires 6,756 Shares of Icahn Enterprises L.P. (NASDAQ:IEP)

Raymond James & Associates increased its holdings in shares of Icahn Enterprises L.P. (NASDAQ:IEPGet Rating) by 15.8% during the third quarter, HoldingsChannel.com reports. The fund owned 49,414 shares of the conglomerate’s stock after buying an additional 6,756 shares during the quarter. Raymond James & Associates’ holdings in Icahn Enterprises were worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in Icahn Enterprises by 140.8% during the first quarter. Geneos Wealth Management Inc. now owns 513 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 300 shares during the period. CoreCap Advisors LLC bought a new stake in shares of Icahn Enterprises in the second quarter valued at $27,000. Wagner Wealth Management LLC bought a new stake in shares of Icahn Enterprises in the second quarter valued at $29,000. FinTrust Capital Advisors LLC raised its stake in shares of Icahn Enterprises by 89.0% in the second quarter. FinTrust Capital Advisors LLC now owns 860 shares of the conglomerate’s stock valued at $44,000 after buying an additional 405 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Icahn Enterprises in the second quarter valued at $48,000. 86.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IEP has been the topic of several research reports. TheStreet upgraded Icahn Enterprises from a “d+” rating to a “c-” rating in a research note on Thursday, October 6th. StockNews.com initiated coverage on Icahn Enterprises in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

Icahn Enterprises Stock Performance

NASDAQ:IEP opened at $52.58 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 6.10 and a current ratio of 6.10. Icahn Enterprises L.P. has a 52-week low of $47.17 and a 52-week high of $55.73. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of -36.51 and a beta of 0.76. The business’s fifty day moving average is $51.51 and its 200 day moving average is $51.99.

Icahn Enterprises (NASDAQ:IEPGet Rating) last posted its earnings results on Thursday, November 3rd. The conglomerate reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.59). Icahn Enterprises had a negative return on equity of 3.31% and a negative net margin of 2.66%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Research analysts predict that Icahn Enterprises L.P. will post 0.38 EPS for the current year.

Icahn Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 21st. Investors of record on Friday, November 18th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 15.21%. The ex-dividend date of this dividend was Thursday, November 17th. Icahn Enterprises’s dividend payout ratio is presently -555.55%.

About Icahn Enterprises

(Get Rating)

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.

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Institutional Ownership by Quarter for Icahn Enterprises (NASDAQ:IEP)

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