Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report)'s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $22.53 and traded as low as $22.12. Westlake Chemical Partners shares last traded at $22.34, with a volume of 20,509 shares.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered shares of Westlake Chemical Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.
Check Out Our Latest Stock Report on WLKP
Westlake Chemical Partners Stock Up 0.4%
The stock's fifty day moving average price is $22.49 and its 200 day moving average price is $23.16. The stock has a market cap of $791.49 million, a P/E ratio of 15.07 and a beta of 0.77. The company has a current ratio of 1.37, a quick ratio of 1.35 and a debt-to-equity ratio of 0.50.
Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last issued 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). The company had revenue of $237.63 million during the quarter, compared to the consensus estimate of $296.00 million. Westlake Chemical Partners had a return on equity of 6.35% and a net margin of 4.82%. As a group, research 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Tuesday, May 13th were paid a $0.4714 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.40%. Westlake Chemical Partners's dividend payout ratio (DPR) is 126.85%.
Insider Activity
In other news, Chairman James Chao sold 3,700 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $22.10, for a total value of $81,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 13,908 shares of company stock valued at $307,759. 1.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Westlake Chemical Partners
Institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Westlake Chemical Partners in the 4th quarter valued at $456,000. Proficio Capital Partners LLC purchased a new stake in Westlake Chemical Partners during the 4th quarter valued at $1,874,000. LPL Financial LLC boosted its position in Westlake Chemical Partners by 13.8% during the 4th quarter. LPL Financial LLC now owns 35,136 shares of the basic materials company's stock valued at $813,000 after buying an additional 4,253 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Westlake Chemical Partners by 5.4% during the 4th 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 buying an additional 28,430 shares during the period. Finally, Samalin Investment Counsel LLC boosted its position in Westlake Chemical Partners by 10.6% during the 4th quarter. Samalin Investment Counsel LLC now owns 24,287 shares of the basic materials company's stock valued at $562,000 after buying an additional 2,327 shares during the period. Hedge funds and other institutional investors own 78.28% of the company's stock.
Westlake Chemical Partners Company Profile
(
Get Free Report)
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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