Westlake Chemical Partners (NYSE:WLKP) Stock Price Passes Above Fifty Day Moving Average of $24.75

Westlake Chemical Partners LP (NYSE:WLKP) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $24.75 and traded as high as $27.23. Westlake Chemical Partners shares last traded at $26.55, with a volume of 21,656 shares traded.

Separately, Zacks Investment Research cut Westlake Chemical Partners from a “hold” rating to a “sell” rating in a report on Wednesday, November 10th.

The business has a fifty day simple moving average of $24.80 and a 200-day simple moving average of $25.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.22 and a current ratio of 5.34. The firm has a market cap of $957.47 million, a price-to-earnings ratio of 14.02, a PEG ratio of 1.46 and a beta of 1.18.

Westlake Chemical Partners (NYSE:WLKP) last issued its earnings results on Monday, November 1st. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Westlake Chemical Partners had a return on equity of 7.39% and a net margin of 6.02%. The firm had revenue of $293.97 million during the quarter. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, equities analysts anticipate that Westlake Chemical Partners LP will post 1.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 29th. Stockholders of record on Friday, November 12th were paid a $0.471 dividend. The ex-dividend date was Wednesday, November 10th. This represents a $1.88 annualized dividend and a dividend yield of 6.93%. Westlake Chemical Partners’s payout ratio is 97.93%.

Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors acquired a new stake in shares of Westlake Chemical Partners in the third quarter valued at about $25,000. PNC Financial Services Group Inc. acquired a new stake in shares of Westlake Chemical Partners in the second quarter valued at about $27,000. Koshinski Asset Management Inc. acquired a new stake in shares of Westlake Chemical Partners in the fourth quarter valued at about $27,000. Royal Bank of Canada grew its stake in Westlake Chemical Partners by 58.9% during the second quarter. Royal Bank of Canada now owns 2,688 shares of the basic materials company’s stock worth $72,000 after purchasing an additional 996 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in Westlake Chemical Partners during the fourth quarter worth approximately $90,000. 32.16% of the stock is owned by institutional investors.

Westlake Chemical Partners Company Profile (NYSE:WLKP)

Westlake Chemical Partners LP engages in the operation, acquisition and development of ethylene production facilities and related assets. It also involves in the manufacture and marketing of basic chemicals, polymers and fabricated building products. The company was founded on March 14, 2014 and is headquartered in Houston, TX.

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