Brookstone Capital Management Takes $344,000 Position in Icahn Enterprises L.P. (NASDAQ:IEP)

Brookstone Capital Management purchased a new position in shares of Icahn Enterprises L.P. (NASDAQ:IEP) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 20,199 shares of the conglomerate’s stock, valued at approximately $344,000.

Several other hedge funds also recently added to or reduced their stakes in IEP. International Assets Investment Management LLC boosted its position in shares of Icahn Enterprises by 1,623.0% during the fourth quarter. International Assets Investment Management LLC now owns 334,483 shares of the conglomerate’s stock valued at $5,750,000 after buying an additional 315,070 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Icahn Enterprises by 4,461,650.0% during the 4th quarter. BNP Paribas Financial Markets now owns 178,470 shares of the conglomerate’s stock worth $3,068,000 after acquiring an additional 178,466 shares during the last quarter. Jump Financial LLC purchased a new position in Icahn Enterprises during the 4th quarter valued at $2,675,000. GSA Capital Partners LLP bought a new position in Icahn Enterprises in the 3rd quarter valued at $1,302,000. Finally, MKT Advisors LLC purchased a new stake in Icahn Enterprises in the fourth quarter worth $1,064,000. 87.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Icahn Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th.

Icahn Enterprises Price Performance

Shares of IEP stock opened at $16.31 on Tuesday. The company has a market capitalization of $7.36 billion, a P/E ratio of -14.18 and a beta of 0.80. The company’s 50-day simple moving average is $16.86 and its two-hundred day simple moving average is $17.56. Icahn Enterprises L.P. has a one year low of $15.00 and a one year high of $36.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.62 and a quick ratio of 4.62.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings results on Wednesday, May 8th. The conglomerate reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.34). The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Icahn Enterprises had a negative net margin of 4.30% and a negative return on equity of 7.04%. As a group, equities analysts anticipate that Icahn Enterprises L.P. will post 0.53 EPS for the current year.

Icahn Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $4.00 annualized dividend and a dividend yield of 24.52%. Icahn Enterprises’s dividend payout ratio is currently -347.82%.

Icahn Enterprises Profile

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.