80,990 Shares in Westlake Chemical Partners LP (NYSE:WLKP) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in shares of Westlake Chemical Partners LP (NYSE:WLKP) in the 4th quarter, HoldingsChannel reports. The fund bought 80,990 shares of the basic materials company’s stock, valued at approximately $1,874,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WLKP. JPMorgan Chase & Co. lifted its holdings in shares of Westlake Chemical Partners by 267.0% in the 3rd 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. Glenmede Trust Co. NA increased its position in Westlake Chemical Partners by 22.0% in the third quarter. Glenmede Trust Co. NA now owns 55,478 shares of the basic materials company’s stock worth $1,243,000 after buying an additional 10,000 shares during the period. Hilltop Holdings Inc. lifted its stake in Westlake Chemical Partners by 2.7% in the third quarter. Hilltop Holdings Inc. now owns 27,216 shares of the basic materials company’s stock valued at $610,000 after buying an additional 711 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Westlake Chemical Partners by 3.4% during the fourth quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company’s stock valued at $357,000 after acquiring an additional 512 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Westlake Chemical Partners during the fourth quarter worth about $211,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Westlake Chemical Partners Stock Up 0.5 %

WLKP stock opened at $23.47 on Thursday. 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 firm’s 50-day simple moving average is $23.95 and its 200 day simple moving average is $23.22. The stock has a market cap of $827.06 million, a PE ratio of 13.41 and a beta of 1.09. Westlake Chemical Partners LP has a fifty-two week low of $21.19 and a fifty-two week high of $25.04.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings results on Monday, February 24th. The basic materials company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $290.06 million for the quarter, compared to analyst estimates of $262.00 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. As a group, sell-side analysts predict that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were paid a dividend of $0.4714 per share. The ex-dividend date was Friday, February 7th. This represents a $1.89 annualized dividend and a yield of 8.03%. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47. Westlake Chemical Partners’s payout ratio is presently 106.21%.

Westlake Chemical Partners 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.