Andrew Kenner Acquires 10,000 Shares of Westlake Chemical Partners LP (NYSE:WLKP) Stock

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) SVP Andrew Kenner bought 10,000 shares of Westlake Chemical Partners stock in a transaction dated Wednesday, May 8th. The shares were bought at an average cost of $22.10 per share, with a total value of $221,000.00. Following the completion of the acquisition, the senior vice president now owns 160,839 shares of the company's stock, valued at $3,554,541.90. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Andrew Kenner also recently made the following trade(s):

• On Thursday, March 28th, Andrew Kenner purchased 5,000 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $22.23 per share, for a total transaction of $111,150.00.
• On Thursday, March 21st, Andrew Kenner purchased 4,230 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $22.16 per share, for a total transaction of $93,736.80.
• On Wednesday, March 6th, Andrew Kenner purchased 5,000 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $22.30 per share, for a total transaction of $111,500.00.
• On Thursday, February 22nd, Andrew Kenner purchased 10,000 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $22.12 per share, for a total transaction of $221,200.00.

Westlake Chemical Partners Stock Performance

Shares of WLKP stock traded up $0.27 during trading on Friday, reaching $22.37. The company had a trading volume of 551,597 shares, compared to its average volume of 61,617. The firm's 50 day simple moving average is $22.19 and its two-hundred day simple moving average is $22.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.21 and a quick ratio of 5.09. Westlake Chemical Partners LP has a one year low of $20.86 and a one year high of $23.68. The company has a market capitalization of $788.05 million, a PE ratio of 14.53 and a beta of 1.08.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.01). Westlake Chemical Partners had a net margin of 4.64% and a return on equity of 6.32%. The company had revenue of $284.67 million during the quarter, compared to the consensus estimate of $280.76 million. During the same period in the previous year, the business posted $0.42 earnings per share. Sell-side analysts forecast that Westlake Chemical Partners LP will post 1.7 earnings per share for the current year.

Westlake Chemical Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 13th will be issued a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 8.43%. The ex-dividend date is Friday, May 10th. Westlake Chemical Partners's dividend payout ratio (DPR) is presently 122.08%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WLKP. UBS Group AG grew its holdings in shares of Westlake Chemical Partners by 9.3% in the 3rd quarter. UBS Group AG now owns 537,225 shares of the basic materials company's stock worth $11,685,000 after purchasing an additional 45,515 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Westlake Chemical Partners by 43.2% during the fourth quarter. Raymond James & Associates now owns 20,043 shares of the basic materials company's stock worth $434,000 after buying an additional 6,043 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Westlake Chemical Partners by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 595,137 shares of the basic materials company's stock valued at $12,944,000 after acquiring an additional 25,123 shares during the last quarter. Kovack Advisors Inc. acquired a new position in shares of Westlake Chemical Partners in the 4th quarter worth approximately $261,000. Finally, Tower Research Capital LLC TRC bought a new stake in Westlake Chemical Partners during the 4th quarter worth approximately $27,000. Institutional investors own 78.28% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Westlake Chemical Partners from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 26th.

About Westlake Chemical Partners

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.