Westlake Chemical Partners (NYSE:WLKP) Hits New 52-Week Low - Time to Sell?

Key Points

• Westlake Chemical Partners (NYSE: WLKP) reached a new 52-week low at $20.65, closing at $20.79, indicating a 1.0% decline in stock prices.
• The company reported quarterly earnings of $0.41 per share, missing the consensus estimate of $0.44, with revenue at $297.12 million, below expectations.
• Westlake Chemical Partners declared a quarterly dividend of $0.4714, offering an annualized yield of 9.1%, but has a high dividend payout ratio of 126.85%.

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The company traded as low as $20.65 and last traded at $20.79, with a volume of 29091 shares changing hands. The stock had previously closed at $21.03.

Analyst Upgrades and Downgrades

WLKP has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Westlake Chemical Partners from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Zacks Research raised shares of Westlake Chemical Partners to a "hold" rating in a research report on Thursday, August 28th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Westlake Chemical Partners Stock Down 1.0%

The stock has a market cap of $733.52 million, a P/E ratio of 13.97, a PEG ratio of 2.65 and a beta of 0.76. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.48. The company's 50 day moving average price is $21.93 and its two-hundred day moving average price is $22.44.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last released its earnings results on Tuesday, August 5th. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). Westlake Chemical Partners had a return on equity of 6.38% and a net margin of 4.78%.The business had revenue of $297.12 million for the quarter, compared to the consensus estimate of $301.00 million. Equities analysts forecast that Westlake Chemical Partners LP will post 1.55 earnings per share for the current year.

Westlake Chemical Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th were issued a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend was Tuesday, August 12th. Westlake Chemical Partners's dividend payout ratio is 126.85%.

Insider Buying and Selling at Westlake Chemical Partners

In related news, CEO Jean-Marc Gilson acquired 4,700 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average price of $21.84 per share, with a total value of $102,648.00. Following the completion of the purchase, the chief executive officer directly owned 9,208 shares in the company, valued at approximately $201,102.72. The trade was a 104.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Westlake Chemical Partners

A number of hedge funds have recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC bought a new position in shares of Westlake Chemical Partners in the 1st quarter worth $231,000. Apollon Wealth Management LLC increased its holdings in Westlake Chemical Partners by 7.3% in the first quarter. Apollon Wealth Management LLC now owns 16,547 shares of the basic materials company's stock valued at $382,000 after purchasing an additional 1,126 shares during the period. Fractal Investments LLC acquired a new stake in Westlake Chemical Partners during the 1st quarter worth about $1,856,000. GSA Capital Partners LLP lifted its position in Westlake Chemical Partners by 17.2% in the 1st quarter. GSA Capital Partners LLP now owns 29,274 shares of the basic materials company's stock valued at $676,000 after acquiring an additional 4,288 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in shares of Westlake Chemical Partners by 1.6% during the 1st quarter. Pathway Financial Advisers LLC now owns 103,390 shares of the basic materials company's stock worth $2,387,000 after buying an additional 1,610 shares in the last quarter. Institutional investors own 78.28% of the company's stock.

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.

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