Wall Street Zen upgraded shares of Westlake Chemical Partners (NYSE:WLKP – Free Report) from a hold rating to a buy rating in a research report report published on Saturday.
Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Westlake Chemical Partners in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.
View Our Latest Research Report on WLKP
Westlake Chemical Partners Trading Down 0.7%
Westlake Chemical Partners (NYSE:WLKP – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $308.90 million during the quarter, compared to the consensus estimate of $303.00 million. Westlake Chemical Partners had a net margin of 4.34% and a return on equity of 6.00%. Equities analysts anticipate that Westlake Chemical Partners will post 1.55 EPS for the current year.
Westlake Chemical Partners Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 10th were given a dividend of $0.4714 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.89 dividend on an annualized basis and a yield of 9.1%. Westlake Chemical Partners’s dividend payout ratio is currently 135.00%.
Institutional Trading of Westlake Chemical Partners
Institutional investors have recently modified their holdings of the stock. Gilman Hill Asset Management LLC boosted its holdings in Westlake Chemical Partners by 104.2% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 77,442 shares of the basic materials company’s stock worth $1,626,000 after acquiring an additional 39,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Westlake Chemical Partners by 6.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 583,932 shares of the basic materials company’s stock worth $12,899,000 after purchasing an additional 32,863 shares during the period. ING Groep NV grew its stake in Westlake Chemical Partners by 152.4% during the third quarter. ING Groep NV now owns 53,000 shares of the basic materials company’s stock valued at $1,112,000 after acquiring an additional 32,000 shares in the last quarter. Energy Income Partners LLC increased its holdings in shares of Westlake Chemical Partners by 1.4% in the second quarter. Energy Income Partners LLC now owns 1,774,544 shares of the basic materials company’s stock worth $39,200,000 after purchasing an additional 24,459 shares during the period. Finally, Jane Street Group LLC bought a new position in Westlake Chemical Partners in the 2nd quarter worth about $387,000. 78.28% of the stock is currently owned by institutional investors.
Westlake Chemical Partners Company Profile
Westlake Chemical Partners LP (NYSE: WLKP) is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.
WLKP’s operations are organized into two primary segments: olefins and vinyls.
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