Beacon Harbor Wealth Advisors Inc. Purchases New Shares of Icahn Enterprises LP (NASDAQ:IEP)

Financial Advisors


Beacon Harbor Wealth Advisors, Inc. will sell new shares of Icahn Enterprises LP (NASDAQ:IEP – Received Valuation) during the fourth quarter, according to its latest 13F filing with the Securities and Exchange Commission. Purchased. The fund purchased 10,400 shares of the conglomerate worth approximately $527,000.

Several other hedge funds have also recently changed positions within the company. PNC Financial Services Group increased its stake in Icahn Enterprises by 8.1% in the fourth quarter. PNC Financial Services Group Inc. acquired an additional 200 shares last quarter and now owns 2,661 shares of the company, valued at $135,000. Kingsview Wealth Management LLC increased his position in Icahn Enterprises by 1.0% during the third quarter. Kingsview Wealth Management LLC acquired an additional 217 shares during the last quarter and now owns 22,524 shares of the conglomerate, valued at $1,119,000. Oppenheimer & Co. Inc. increased his position at Icahn Enterprises by 2.5% during the fourth quarter. Oppenheimer & Co. Inc. acquired an additional 280 shares during the last quarter and now owns 11,375 shares of the conglomerate, valued at $576,000. Jeppson Wealth Management LLC increased his Icahn Enterprises position by 6.6% during the fourth quarter. Jepson Wealth Management LLC acquired an additional 287 shares during the last quarter and now owns 4,631 shares in the conglomerate worth $235,000. Finally, Evanson Asset Management LLC increased his position in Icahn Enterprises by 4.0% in the fourth quarter. Evanson Asset Management LLC purchased an additional 294 shares last quarter and now owns 7,693 shares in the company worth $390,000. Institutional investors currently hold 86.86% of the shares.

Analysts set new price target

Separately, StockNews.com downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, May 12.

Icahn Enterprises stock performance

The IEP fell $3.11 to reach $29.11 in Monday noon trading. The company had a trading volume of 2,129,188 shares and an average volume of 1,358,988 shares. The company has a quick ratio of 5.49, a current ratio of 5.49 and a debt to equity ratio of 0.83. His 50-day moving average for this company is $46.77 and his 200-day moving average is $50.54. The company has a market cap of $10.75 billion, a P/E of -13.37 and a beta of 0.75. The Icahn Enterprise LP hit a one-year low of $28.29 and a one-year high of $55.16.

Icahn Enterprises (NASDAQ:IEP – Get Rating) last reported earnings on Friday, February 24th. The conglomerate reported earnings per share (EPS) of $0.74 for the quarter, but below consensus expectations of $0.15 ($0.89). Icahn Enterprises’ return on equity was negative 8.15% and net profit margin was negative 6.08%. The business had sales of $3.1 billion in the quarter, compared with analyst expectations of $2.97 billion. Equity research analysts forecast he will earn 0.1 earnings per share for the current financial year for Icahn Enterprises LP as a group.

Icahn Enterprises Dividend Announcement

The company also recently announced a quarterly dividend to be paid on Friday, June 30. Shareholders of record on Monday, May 22 will be issued his $2.00 dividend per share. This equates to an annual dividend of $8.00 and a yield of 27.48%. The ex-dividend date is Friday, May 19. Icahn Enterprises’ payout ratio is currently -352.42%.

Icahn Enterprise Profile

(get rating)

Icahn Enterprises LP operates as a holding company. It operates through eight business segments: Investments, Automotive, Energy, Food Packaging, Metals, Real Estate, Home Fashion and Pharmaceuticals. The Investment segment consists of various private investment funds. The automotive division holds ownership of his Icahn Automotive Group LLC.

Related item

Want to know if other hedge funds hold IEPs? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Icahn Enterprises LP (NASDAQ:IEP – Get Rating).

Icahn Enterprises Quarterly Institutional Ownership (NASDAQ:IEP)

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