Westlake Chemical Partners (NYSE:WLKP) Shares Down 4.5% – Should You Sell?

Shares of Westlake Chemical Partners LP (NYSE:WLKP) traded down 4.5% during mid-day trading on Friday . The stock traded as low as $20.68 and last traded at $20.6310. 17,030 shares were traded during trading, a decline of 65% from the average session volume of 49,283 shares. The stock had previously closed at $21.61.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen raised Westlake Chemical Partners from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Westlake Chemical Partners in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Westlake Chemical Partners Trading Down 4.4%

The company has a fifty day simple moving average of $19.95 and a 200-day simple moving average of $20.48. The company has a current ratio of 2.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.49. The stock has a market cap of $727.91 million, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.34 and a beta of 0.59.

Westlake Chemical Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 6th will be given a $0.4714 dividend. This represents a $1.89 annualized dividend and a dividend yield of 9.1%. The ex-dividend date is Friday, February 6th. Westlake Chemical Partners’s dividend payout ratio is 135.00%.

Institutional Trading of Westlake Chemical Partners

Large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in shares of Westlake Chemical Partners by 142.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 6,302 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 3,708 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Westlake Chemical Partners by 45.8% in the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 3,187 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Westlake Chemical Partners by 25.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 12,500 shares of the basic materials company’s stock worth $262,000 after acquiring an additional 2,500 shares in the last quarter. Jane Street Group LLC acquired a new stake in Westlake Chemical Partners during the 2nd quarter worth about $387,000. Finally, Envestnet Asset Management Inc. grew its stake in 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 in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Westlake Chemical Partners Company Profile

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.