Westlake Chemical Partners (NYSE:WLKP) Share Price Crosses Above 50 Day Moving Average - What's Next?

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $23.27 and traded as high as $23.45. Westlake Chemical Partners shares last traded at $23.25, with a volume of 34,465 shares changing hands.

Westlake Chemical Partners Stock Performance

The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $23.27 and a two-hundred day moving average price of $23.37. The stock has a market cap of $819.31 million, a P/E ratio of 13.29 and a beta of 0.84.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The basic materials company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. The business had revenue of $290.06 million during the quarter, compared to the consensus estimate of $262.00 million. Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. On average, sell-side analysts forecast that Westlake Chemical Partners LP will post 1.55 earnings per share for the current fiscal year.

Westlake Chemical Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th will be issued a $0.4714 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.89 dividend on an annualized basis and a yield of 8.11%. Westlake Chemical Partners's dividend payout ratio is currently 106.21%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC purchased a new position in Westlake Chemical Partners during the 4th quarter valued at approximately $1,874,000. JPMorgan Chase & Co. increased its position in Westlake Chemical Partners by 267.0% in the third quarter. JPMorgan Chase & Co. now owns 98,437 shares of the basic materials company's stock worth $2,206,000 after purchasing an additional 71,615 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Westlake Chemical Partners by 5.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 558,919 shares of the basic materials company's stock valued at $12,933,000 after purchasing an additional 28,430 shares in the last quarter. Raymond James Financial Inc. bought a new position in Westlake Chemical Partners during the fourth quarter valued at $456,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Westlake Chemical Partners in the 1st quarter worth $231,000. Institutional investors 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.

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