Westlake Chemical Partners LP (NYSE:WLKP) Director James Chao acquired 8,473 shares of the stock in a transaction dated Monday, December 4th. The shares were bought at an average cost of $22.17 per share, with a total value of $187,846.41. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Westlake Chemical Partners LP (NYSE:WLKP) traded up $0.25 during trading on Tuesday, reaching $22.40. 100,235 shares of the company were exchanged, compared to its average volume of 50,016. The company has a market capitalization of $604.77, a P/E ratio of 14.24, a P/E/G ratio of 4.07 and a beta of 1.18. Westlake Chemical Partners LP has a 1-year low of $20.00 and a 1-year high of $26.25. The company has a current ratio of 4.84, a quick ratio of 4.76 and a debt-to-equity ratio of 0.48.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Westlake Chemical Partners had a net margin of 3.80% and a return on equity of 4.73%. The company had revenue of $296.78 million during the quarter. analysts predict that Westlake Chemical Partners LP will post 1.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th were given a $0.3756 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date was Monday, November 13th. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.37. Westlake Chemical Partners’s dividend payout ratio (DPR) is 95.54%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. grew its position in shares of Westlake Chemical Partners by 27,347.0% in the 2nd quarter. Citigroup Inc. now owns 27,447 shares of the basic materials company’s stock valued at $679,000 after acquiring an additional 27,347 shares during the period. Citadel Advisors LLC bought a new position in shares of Westlake Chemical Partners in the 3rd quarter valued at about $923,000. Franklin Square Holdings L.P. bought a new position in shares of Westlake Chemical Partners in the 3rd quarter valued at about $931,000. Bank of New York Mellon Corp grew its position in shares of Westlake Chemical Partners by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 61,237 shares of the basic materials company’s stock valued at $1,516,000 after acquiring an additional 661 shares during the period. Finally, Center Coast Capital Advisors LP bought a new position in shares of Westlake Chemical Partners in the 3rd quarter valued at about $2,083,000. 55.16% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on the stock. BidaskClub downgraded shares of Westlake Chemical Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th. ValuEngine raised shares of Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Citigroup assumed coverage on shares of Westlake Chemical Partners in a research report on Tuesday. They issued a “buy” rating and a $25.50 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Westlake Chemical Partners currently has a consensus rating of “Buy” and a consensus target price of $27.75.

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About Westlake Chemical Partners

Westlake Chemical Partners LP is a limited partnership formed by Westlake Chemical Corporation (Westlake). The Company operates, acquires and develops ethylene production facilities and other assets. Its business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCo sells ethylene to Westlake and others, as well as sells co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen.

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