Westlake Chemical Partners LP (NYSE:WLKP) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC reduced its stake in Westlake Chemical Partners LP (NYSE:WLKP) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,000 shares of the basic materials company’s stock after selling 1,000 shares during the period. Advisory Services Network LLC owned approximately 0.08% of Westlake Chemical Partners worth $671,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Westlake Chemical Partners during the third quarter worth about $36,000. JPMorgan Chase & Co. increased its stake in shares of Westlake Chemical Partners by 267.0% in the third quarter. JPMorgan Chase & Co. now owns 98,437 shares of the basic materials company’s stock worth $2,206,000 after buying an additional 71,615 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Westlake Chemical Partners by 32.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company’s stock worth $77,000 after buying an additional 812 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Westlake Chemical Partners by 3.4% in the 4th quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company’s stock worth $357,000 after purchasing an additional 512 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Westlake Chemical Partners in the 4th quarter valued at about $211,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Westlake Chemical Partners Trading Up 2.0 %

Shares of NYSE WLKP opened at $22.90 on Wednesday. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $23.40 and its two-hundred day moving average price is $23.29. Westlake Chemical Partners LP has a 52-week low of $21.19 and a 52-week high of $25.04. The stock has a market capitalization of $806.80 million, a P/E ratio of 13.08 and a beta of 0.93.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings results on Monday, February 24th. The basic materials company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. The business had revenue of $290.06 million for the quarter, compared to analysts’ expectations of $262.00 million. On average, analysts anticipate that Westlake Chemical Partners LP will post 1.55 earnings per share for the current fiscal year.

Westlake Chemical Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a $0.4714 dividend. This is a boost from Westlake Chemical Partners’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 7th. This represents a $1.89 annualized dividend and a yield of 8.24%. Westlake Chemical Partners’s dividend payout ratio is 106.21%.

About Westlake Chemical Partners

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