Meridian Wealth Management LLC Boosts Stock Position in Icahn Enterprises L.P. (NASDAQ:IEP)

Meridian Wealth Management LLC grew its position in Icahn Enterprises L.P. (NASDAQ:IEP) by 5.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,171 shares of the conglomerate’s stock after buying an additional 1,026 shares during the period. Meridian Wealth Management LLC’s holdings in Icahn Enterprises were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in IEP. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Icahn Enterprises in the 3rd quarter valued at approximately $164,000. United Advisor Group LLC increased its holdings in shares of Icahn Enterprises by 7.7% in the 3rd quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock valued at $391,000 after acquiring an additional 2,079 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in Icahn Enterprises by 6.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after buying an additional 855 shares during the last quarter. Planning Capital Management Corp bought a new position in Icahn Enterprises during the 3rd quarter worth $34,000. Finally, KPP Advisory Services LLC grew its stake in Icahn Enterprises by 40.2% during the 3rd quarter. KPP Advisory Services LLC now owns 15,918 shares of the conglomerate’s stock worth $215,000 after buying an additional 4,563 shares during the last quarter. 87.09% of the stock is currently owned by institutional investors.

Icahn Enterprises Price Performance

Shares of IEP opened at $9.90 on Friday. The company has a market cap of $5.18 billion, a P/E ratio of -9.08 and a beta of 0.81. The stock has a fifty day moving average price of $9.63 and a 200 day moving average price of $11.50. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. Icahn Enterprises L.P. has a 12 month low of $8.53 and a 12 month high of $20.25.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings data on Wednesday, February 26th. The conglomerate reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. On average, research analysts forecast that Icahn Enterprises L.P. will post -0.55 earnings per share for the current year.

Icahn Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 10th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 10th. This represents a $2.00 dividend on an annualized basis and a yield of 20.20%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -210.53%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a research note on Friday, February 28th.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.