Zacks: Brokerages Anticipate Westlake Chemical Partners LP (WLKP) to Announce $0.43 Earnings Per Share

Equities analysts predict that Westlake Chemical Partners LP (NYSE:WLKP) will announce earnings of $0.43 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Westlake Chemical Partners’ earnings. Westlake Chemical Partners posted earnings of $0.39 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.3%. The firm is expected to report its next quarterly earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that Westlake Chemical Partners will report full-year earnings of $1.58 per share for the current financial year, with EPS estimates ranging from $1.46 to $1.70. For the next year, analysts anticipate that the business will post earnings of $1.80 per share, with EPS estimates ranging from $1.75 to $1.85. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Westlake Chemical Partners.

Westlake Chemical Partners (NYSE:WLKP) last posted its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate 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.

WLKP has been the subject of a number of recent research reports. TheStreet upgraded shares of Westlake Chemical Partners from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Citigroup started coverage on shares of Westlake Chemical Partners in a research note on Tuesday, December 5th. They set a “buy” rating and a $25.50 price objective for the company. ValuEngine cut shares of Westlake Chemical Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 14th. Deutsche Bank started coverage on shares of Westlake Chemical Partners in a report on Wednesday, January 3rd. They issued a “buy” rating on the stock. Finally, Barclays started coverage on shares of Westlake Chemical Partners in a report on Wednesday, December 20th. They issued an “equal weight” rating and a $26.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $26.88.

Westlake Chemical Partners (NYSE:WLKP) traded down $0.10 during trading on Friday, hitting $24.45. 87,821 shares of the stock were exchanged, compared to its average volume of 81,246. Westlake Chemical Partners has a one year low of $20.70 and a one year high of $26.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.76 and a current ratio of 4.84. The firm has a market cap of $664.30, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 3.63 and a beta of 1.19.

In related news, Director James Chao purchased 8,473 shares of the stock in a transaction on Monday, December 4th. The shares were purchased at an average cost of $22.17 per share, with a total value of $187,846.41. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Albert Chao purchased 2,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was bought at an average cost of $21.49 per share, for a total transaction of $42,980.00. Following the completion of the acquisition, the chief executive officer now owns 47,000 shares in the company, valued at $1,010,030. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 35,748 shares of company stock worth $787,823.

Institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its holdings in 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 Westlake Chemical Partners in the 3rd quarter valued at about $923,000. Franklin Square Holdings L.P. bought a new position in Westlake Chemical Partners in the 3rd quarter valued at about $931,000. Bank of New York Mellon Corp raised its holdings in 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 Westlake Chemical Partners in the 3rd quarter valued at about $2,083,000. 55.16% of the stock is currently owned by hedge funds and other institutional investors.

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Westlake Chemical Partners Company Profile

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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