LPL Financial LLC Boosts Stock Position in Westlake Chemical Partners LP (NYSE:WLKP)

LPL Financial LLC increased its position in Westlake Chemical Partners LP (NYSE:WLKP) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,136 shares of the basic materials company’s stock after acquiring an additional 4,253 shares during the quarter. LPL Financial LLC’s holdings in Westlake Chemical Partners were worth $813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Westlake Chemical Partners in the third quarter worth approximately $36,000. JPMorgan Chase & Co. lifted its stake in shares of Westlake Chemical Partners by 267.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,437 shares of the basic materials company’s stock valued at $2,206,000 after buying an additional 71,615 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Westlake Chemical Partners by 32.2% in the 4th 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 period. Apollon Wealth Management LLC increased its stake in 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 buying an additional 512 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Westlake Chemical Partners during the fourth quarter valued at about $211,000. Institutional investors own 78.28% of the company’s stock.

Westlake Chemical Partners Stock Performance

NYSE WLKP opened at $23.12 on Tuesday. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. Westlake Chemical Partners LP has a twelve month low of $21.19 and a twelve month high of $25.04. The business has a 50-day moving average price of $23.35 and a 200-day moving average price of $23.31. The firm has a market cap of $814.73 million, a price-to-earnings ratio of 13.21 and a beta of 0.93.

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

Westlake Chemical Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were issued a $0.4714 dividend. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47. This represents a $1.89 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date of this dividend was Friday, February 7th. Westlake Chemical Partners’s payout ratio is currently 106.21%.

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