Icahn Enterprises L.P. (IEP) Downgraded by ValuEngine to “Sell”

ValuEngine lowered shares of Icahn Enterprises L.P. (NASDAQ:IEP) from a hold rating to a sell rating in a report released on Tuesday morning.

Several other analysts have also recently commented on IEP. Jefferies Group LLC reiterated a buy rating and issued a $61.00 price objective on shares of Icahn Enterprises L.P. in a research note on Wednesday, August 9th. TheStreet upgraded shares of Icahn Enterprises L.P. from a d+ rating to a c rating in a research note on Tuesday, August 8th. BidaskClub cut shares of Icahn Enterprises L.P. from a buy rating to a hold rating in a research report on Saturday, August 12th. Finally, UBS AG lifted their target price on shares of Icahn Enterprises L.P. from $39.00 to $42.00 and gave the stock a sell rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Icahn Enterprises L.P. currently has an average rating of Hold and an average price target of $51.50.

Shares of Icahn Enterprises L.P. (NASDAQ IEP) traded down $0.86 during midday trading on Tuesday, hitting $52.87. 158,000 shares of the company traded hands, compared to its average volume of 92,634. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.76 and a quick ratio of 2.76. Icahn Enterprises L.P. has a 12-month low of $47.06 and a 12-month high of $64.80. The firm has a market capitalization of $9,084.85, a PE ratio of 4.63 and a beta of 1.77.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, November 13th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 11.35%. The ex-dividend date of this dividend is Friday, November 10th. Icahn Enterprises L.P.’s payout ratio is currently 13.04%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Ffcm LLC acquired a new position in Icahn Enterprises L.P. during the second quarter worth about $112,000. Global X Management Co. LLC raised its position in Icahn Enterprises L.P. by 4.2% during the second quarter. Global X Management Co. LLC now owns 2,420 shares of the conglomerate’s stock worth $125,000 after acquiring an additional 97 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in Icahn Enterprises L.P. during the third quarter worth about $202,000. IPG Investment Advisors LLC acquired a new position in Icahn Enterprises L.P. during the second quarter worth about $207,000. Finally, Virtu KCG Holdings LLC acquired a new position in Icahn Enterprises L.P. during the second quarter worth about $221,000. Institutional investors own 94.33% of the company’s stock.

About Icahn Enterprises L.P.

Icahn Enterprises L.P. (Icahn Enterprises) is a holding company. The Company’s segments include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. The Company’s Investment segment includes various private investment funds. The Company operates its Automotive segment through its ownership in Federal-Mogul Holdings Corporation and IEH Auto Parts Holding LLC.

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