Westlake Chemical Partners (NYSE:WLKP) Reaches New 52-Week High – What’s Next?

Westlake Chemical Partners LP (NYSE:WLKP) shares reached a new 52-week high during trading on Thursday . The company traded as high as $24.66 and last traded at $24.55, with a volume of 43335 shares traded. The stock had previously closed at $24.60.

Westlake Chemical Partners Stock Down 0.1 %

The business’s fifty day simple moving average is $23.64 and its 200 day simple moving average is $22.97. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48. The stock has a market cap of $860.38 million, a price-to-earnings ratio of 13.95 and a beta of 1.10.

Westlake Chemical Partners (NYSE:WLKP) last released its earnings results on Tuesday, November 5th. The basic materials company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.15. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. The firm had revenue of $277.00 million during the quarter, compared to analyst estimates of $244.16 million. During the same quarter in the previous year, the business earned $0.37 EPS. Equities analysts forecast that Westlake Chemical Partners LP will post 1.55 earnings per share for the current fiscal year.

Westlake Chemical Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be issued a $0.4714 dividend. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, February 7th. This represents a $1.89 annualized dividend and a dividend yield of 7.72%. Westlake Chemical Partners’s payout ratio is 108.00%.

Hedge Funds Weigh In On Westlake Chemical Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Westlake Chemical Partners in the 3rd quarter valued at $36,000. Geneos Wealth Management Inc. grew its holdings in shares of Westlake Chemical Partners by 32.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company’s stock valued at $77,000 after buying an additional 812 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Westlake Chemical Partners in the 3rd quarter valued at $78,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Westlake Chemical Partners in the 4th quarter valued at $211,000. Finally, Apollon Wealth Management LLC lifted its position in Westlake Chemical Partners by 7.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 14,909 shares of the basic materials company’s stock valued at $334,000 after acquiring an additional 1,041 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company’s ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.