Westlake Chemical Partners (NYSE:WLKP) Hits New 12-Month Low – Time to Sell?

Westlake Chemical Partners LP (NYSE:WLKP) reached a new 52-week low during trading on Wednesday . The company traded as low as $19.75 and last traded at $19.93, with a volume of 49872 shares changing hands. The stock had previously closed at $19.87.

Analysts Set New Price Targets

WLKP has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Westlake Chemical Partners from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Westlake Chemical Partners in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Westlake Chemical Partners to a “hold” rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Westlake Chemical Partners currently has a consensus rating of “Hold”.

Westlake Chemical Partners Trading Down 2.1%

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.15 and a quick ratio of 2.10. The stock has a market capitalization of $691.94 million, a price-to-earnings ratio of 13.18, a PEG ratio of 2.52 and a beta of 0.73. The business has a 50 day simple moving average of $21.33 and a 200-day simple moving average of $22.05.

Westlake Chemical Partners (NYSE:WLKP) last posted its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). The firm had revenue of $297.12 million for the quarter, compared to analyst estimates of $301.00 million. Westlake Chemical Partners had a return on equity of 6.38% and a net margin of 4.78%. As a group, equities analysts expect that Westlake Chemical Partners LP will post 1.55 earnings per share for the current year.

Westlake Chemical Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th were given a dividend of $0.4714 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.89 annualized dividend and a yield of 9.6%. Westlake Chemical Partners’s dividend payout ratio is 126.85%.

Insider Buying and Selling

In related news, CEO Jean-Marc Gilson purchased 4,700 shares of Westlake Chemical Partners stock in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $21.84 per share, with a total value of $102,648.00. Following the completion of the transaction, the chief executive officer owned 9,208 shares of the company’s stock, valued at approximately $201,102.72. This trade represents a 104.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC boosted its position in Westlake Chemical Partners by 5.9% during the third quarter. Apollon Wealth Management LLC now owns 19,737 shares of the basic materials company’s stock valued at $414,000 after purchasing an additional 1,106 shares during the last quarter. Gilman Hill Asset Management LLC boosted its position in Westlake Chemical Partners by 104.2% during the third quarter. Gilman Hill Asset Management LLC now owns 77,442 shares of the basic materials company’s stock valued at $1,626,000 after purchasing an additional 39,519 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Westlake Chemical Partners by 25.0% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 12,500 shares of the basic materials company’s stock valued at $262,000 after buying an additional 2,500 shares during the period. Osaic Holdings Inc. raised its stake in Westlake Chemical Partners by 45.8% in the second quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company’s stock valued at $224,000 after buying an additional 3,187 shares during the period. Finally, Pathway Financial Advisers LLC raised its stake in Westlake Chemical Partners by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 105,907 shares of the basic materials company’s stock valued at $2,339,000 after buying an additional 2,517 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.

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.