Westlake Chemical Partners LP (NYSE:WLKP) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of Westlake Chemical Partners LP (NYSE:WLKP) by 267.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,437 shares of the basic materials company’s stock after buying an additional 71,615 shares during the period. JPMorgan Chase & Co. owned approximately 0.28% of Westlake Chemical Partners worth $2,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. International Assets Investment Management LLC increased its holdings in shares of Westlake Chemical Partners by 2,141.0% in the third quarter. International Assets Investment Management LLC now owns 32,763 shares of the basic materials company’s stock valued at $734,000 after buying an additional 31,301 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Westlake Chemical Partners by 2,178.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,230,436 shares of the basic materials company’s stock valued at $49,984,000 after acquiring an additional 2,132,523 shares during the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Westlake Chemical Partners by 2.7% during the 3rd quarter. Hilltop Holdings Inc. now owns 27,216 shares of the basic materials company’s stock valued at $610,000 after acquiring an additional 711 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Westlake Chemical Partners by 22.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 55,478 shares of the basic materials company’s stock valued at $1,243,000 after buying an additional 10,000 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Westlake Chemical Partners in the 3rd quarter valued at approximately $78,000. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Westlake Chemical Partners Price Performance

Shares of WLKP stock opened at $24.12 on Wednesday. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $849.79 million, a P/E ratio of 13.78 and a beta of 1.10. Westlake Chemical Partners LP has a 12 month low of $21.19 and a 12 month high of $24.34. The stock has a 50 day moving average of $23.36 and a two-hundred day moving average of $22.89.

Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.15. The firm had revenue of $277.00 million during the quarter, compared to the consensus estimate of $244.16 million. Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. During the same quarter in the previous year, the company posted $0.37 EPS. As a group, equities analysts expect that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th were paid a dividend of $0.471 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.81%. Westlake Chemical Partners’s dividend payout ratio (DPR) is presently 107.43%.

Westlake Chemical Partners 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.