Hi. Can you give me your take on Icahn Enterprises? Is this is a good way to invest alongside Carl Icahn and get a great dividend at the same time? Thanks.
Hi. Can you give me your take on Icahn Enterprises? Is this is a good way to invest alongside Carl Icahn and get a great dividend at the same time? Thanks.
A: Icahn Enterprises L.P., $56.62, symbol IEP on Nasdaq (Units outstanding: 129.0 million; Market cap: $7.5 billion; www.ielp.com), is a holding company with interests in 10 business segments: Investment, Automotive, Energy, Metals, Railcar, Gaming, Mining, Food Packaging, Real Estate and Home Fashion.
Its main subsidiaries include CVR Energy (oil refining, nitrogen fertilizers), WestPoint Home (bedsheets, blankets, towels), Viskase Companies (plastic food containers), Tropicana Entertainment (casinos) and PSC Metals (scrap-metal recycling).
Activist investor Carl Icahn holds 88.8% of Icahn Enterprises’ units.
In the three months ended September 30, 2015, the partnership lost $440 million, or $3.40 a unit, mainly because weaker stock markets hurt the performance of its investment funds. A year earlier, Icahn Enterprises lost $66 million, or $0.52 a unit. Revenue fell 27.4%, to $3.2 billion from $4.4 billion.
The partnership ended the…
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