Energy Income Partners LLC Grows Stake in Westlake Chemical Partners LP (NYSE:WLKP)

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Energy Income Partners LLC grew its position in shares of Westlake Chemical Partners LP (NYSE:WLKP) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702,179 shares of the basic materials company’s stock after purchasing an additional 11,604 shares during the period. Energy Income Partners LLC owned approximately 0.05% of Westlake Chemical Partners worth $41,856,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WLKP. Bank of America Corp DE grew its position in shares of Westlake Chemical Partners by 481.8% during the 4th quarter. Bank of America Corp DE now owns 13,701 shares of the basic materials company’s stock valued at $331,000 after purchasing an additional 11,346 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Westlake Chemical Partners by 81.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,691 shares of the basic materials company’s stock valued at $356,000 after purchasing an additional 7,037 shares in the last quarter. GSA Capital Partners LLP grew its position in Westlake Chemical Partners by 4.4% in the second quarter. GSA Capital Partners LLP now owns 31,462 shares of the basic materials company’s stock worth $774,000 after acquiring an additional 1,318 shares in the last quarter. Renaissance Technologies LLC grew its position in Westlake Chemical Partners by 41.5% in the second quarter. Renaissance Technologies LLC now owns 33,831 shares of the basic materials company’s stock worth $832,000 after acquiring an additional 9,915 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Westlake Chemical Partners by 2.3% in the second quarter. Van ECK Associates Corp now owns 56,434 shares of the basic materials company’s stock worth $1,388,000 after acquiring an additional 1,255 shares in the last quarter. Hedge funds and other institutional investors own 48.87% of the company’s stock.

Several brokerages recently issued reports on WLKP. Barclays upgraded shares of Westlake Chemical Partners from an “equal weight” rating to an “overweight” rating and set a $27.00 target price for the company in a research report on Friday, September 13th. Zacks Investment Research lowered shares of Westlake Chemical Partners from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th.

NYSE WLKP opened at $22.43 on Friday. The firm has a market cap of $724.59 million, a price-to-earnings ratio of 14.85, a PEG ratio of 0.82 and a beta of 0.60. The company has a 50-day simple moving average of $21.83 and a two-hundred day simple moving average of $22.78. The company has a quick ratio of 6.01, a current ratio of 6.12 and a debt-to-equity ratio of 0.41. Westlake Chemical Partners LP has a 12-month low of $20.25 and a 12-month high of $25.25.

Westlake Chemical Partners (NYSE:WLKP) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.07). Westlake Chemical Partners had a return on equity of 5.53% and a net margin of 4.18%. The company had revenue of $270.06 million during the quarter. Equities analysts expect that Westlake Chemical Partners LP will post 1.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 12th were paid a $0.458 dividend. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.45. This represents a $1.83 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date of this dividend was Friday, August 9th. Westlake Chemical Partners’s dividend payout ratio is presently 121.19%.

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, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on a spot or contract basis.

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Institutional Ownership by Quarter for Westlake Chemical Partners (NYSE:WLKP)

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