On April 18, 2023 at 09:52:34 ET an unusually large $257.12K block of Put contracts in Icahn Enterprises (IEP) was bought, with a strike price of $50.00 / share, expiring in 150 day(s) (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.26 sigmas above the mean, placing it in the 96.50th percentile of all recent large trades made in IEP options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 187 funds or institutions reporting positions in Icahn Enterprises. This is an increase of 4 owner(s) or 2.19% in the last quarter. Average portfolio weight of all funds dedicated to IEP is 0.48%, a decrease of 13.87%. Total shares owned by institutions increased in the last three months by 4.18% to 306,009K shares. The put/call ratio of IEP is 0.93, indicating a bullish outlook.

Analyst Price Forecast Suggests 35.28% Upside

As of April 6, 2023, the average one-year price target for Icahn Enterprises is $71.40. The forecasts range from a low of $70.70 to a high of $73.50. The average price target represents an increase of 35.28% from its latest reported closing price of $52.78.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Icahn Enterprises is $10,922MM, a decrease of 22.59%. The projected annual non-GAAP EPS is $0.74.

What are Other Shareholders Doing?

RVRB – Reverb ETF holds 0K shares representing 0.00% ownership of the company.

FLDZ – RiverNorth Patriot ETF holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.

Harbour Investments holds 4K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 99.83%.

Round Hill Asset Management holds 22K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 23K shares, representing a decrease of 1.70%. The firm decreased its portfolio allocation in IEP by 99.91% over the last quarter.

LPL Financial holds 139K shares representing 0.04% ownership of the company. In it’s prior filing, the firm reported owning 135K shares, representing an increase of 2.91%. The firm decreased its portfolio allocation in IEP by 6.79% over the last quarter.

Icahn Enterprises Declares $2.00 Dividend

On February 22, 2023 the company declared a regular quarterly dividend of $2.00 per share ($8.00 annualized). Shareholders of record as of March 13, 2023 will receive the payment on April 19, 2023. Previously, the company paid $2.00 per share.

At the current share price of $52.78 / share, the stock’s dividend yield is 15.16%. Looking back five years and taking a sample every week, the average dividend yield has been 13.59%, the lowest has been 8.75%, and the highest has been 22.19%. The standard deviation of yields is 2.33 (n=237).

The current dividend yield is 0.67 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is -15.80. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

Icahn Enterprises L P Background Information
(This description is provided by the company.)

Icahn Enterprises L.P., a master limited partnership, is a diversified holding company engaged in eight primary business segments: Investment, Energy, Automotive, Food Packaging, Metals, Real Estate, Home Fashion and Pharma.

See all Icahn Enterprises regulatory filings.

This article originally appeared on Fintel

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