Raymond James Financial Inc. Invests $456,000 in Westlake Chemical Partners LP (NYSE:WLKP)

Raymond James Financial Inc. bought a new stake in shares of Westlake Chemical Partners LP (NYSE:WLKP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,700 shares of the basic materials company's stock, valued at approximately $456,000. Raymond James Financial Inc. owned approximately 0.06% of Westlake Chemical Partners at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Westlake Chemical Partners during the 3rd quarter worth approximately $36,000. JPMorgan Chase & Co. lifted its position in shares of Westlake Chemical Partners by 267.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,437 shares of the basic materials company's stock valued at $2,206,000 after acquiring an additional 71,615 shares during the period. Geneos Wealth Management Inc. boosted its stake in Westlake Chemical Partners by 32.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock worth $77,000 after acquiring an additional 812 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Westlake Chemical Partners by 3.4% in the fourth quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company's stock worth $357,000 after purchasing an additional 512 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Westlake Chemical Partners in the fourth quarter valued at $211,000. Institutional investors and hedge funds own 78.28% of the company's stock.

Westlake Chemical Partners Trading Down 1.1 %

Shares of Westlake Chemical Partners stock opened at $22.94 on Friday. The stock has a market capitalization of $808.38 million, a PE ratio of 13.11 and a beta of 0.84. Westlake Chemical Partners LP has a 52 week low of $21.19 and a 52 week high of $25.04. The stock has a 50 day moving average price of $23.18 and a two-hundred day moving average price of $23.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.46 and a current ratio of 4.53.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The basic materials company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.24). Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. The business had revenue of $237.63 million for the quarter, compared to the consensus estimate of $296.00 million. As a group, equities analysts anticipate that Westlake Chemical Partners LP will post 1.55 earnings per share for the current fiscal year.

Westlake Chemical Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Tuesday, May 13th will be given a $0.4714 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.89 annualized dividend and a yield of 8.22%. Westlake Chemical Partners's payout ratio is 126.17%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Westlake Chemical Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th.

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.

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