Wall Street Zen Upgrades Westlake Chemical Partners (NYSE:WLKP) to Strong-Buy

Westlake Chemical Partners (NYSE:WLKP) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Westlake Chemical Partners in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Westlake Chemical Partners has an average rating of “Hold”.

Westlake Chemical Partners Stock Up 0.8%

Shares of Westlake Chemical Partners stock opened at $21.32 on Friday. Westlake Chemical Partners has a twelve month low of $17.75 and a twelve month high of $25.04. The company has a quick ratio of 2.32, a current ratio of 2.37 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $20.21 and its 200 day moving average is $20.45. The company has a market cap of $751.53 million, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 2.27 and a beta of 0.59.

Hedge Funds Weigh In On Westlake Chemical Partners

A number of institutional investors have recently bought and sold shares of WLKP. Goldman Sachs Group Inc. grew its holdings in Westlake Chemical Partners by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 228,885 shares of the basic materials company’s stock valued at $5,285,000 after purchasing an additional 8,424 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Westlake Chemical Partners by 12.6% during the 2nd quarter. Apollon Wealth Management LLC now owns 18,631 shares of the basic materials company’s stock valued at $412,000 after buying an additional 2,084 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Westlake Chemical Partners by 4.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,629 shares of the basic materials company’s stock valued at $389,000 after acquiring an additional 751 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Westlake Chemical Partners by 6.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 583,932 shares of the basic materials company’s stock valued at $12,899,000 after acquiring an additional 32,863 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Westlake Chemical Partners in the 2nd quarter worth approximately $387,000. 78.28% of the stock is owned by institutional investors.

About Westlake Chemical Partners

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.