Proficio Capital Partners LLC Invests $1.87 Million in Westlake Chemical Partners LP (NYSE:WLKP)

Proficio Capital Partners LLC acquired a new position in shares of Westlake Chemical Partners LP (NYSE:WLKP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 80,990 shares of the basic materials company's stock, valued at approximately $1,874,000. Proficio Capital Partners LLC owned about 0.23% of Westlake Chemical Partners at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted 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 worth $2,206,000 after buying an additional 71,615 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Westlake Chemical Partners during the 4th quarter worth about $211,000. Hilltop Holdings Inc. raised its holdings in shares of Westlake Chemical Partners by 2.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 27,216 shares of the basic materials company's stock valued at $610,000 after purchasing an additional 711 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of 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 valued at $77,000 after purchasing an additional 812 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in shares of 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 purchasing an additional 10,000 shares during the period. 78.28% of the stock is currently owned by institutional investors and hedge funds.

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Westlake Chemical Partners Stock Performance

Shares of WLKP stock traded up $0.15 on Friday, reaching $24.20. The stock had a trading volume of 18,143 shares, compared to its average volume of 39,515. 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 firm's 50-day moving average is $23.88 and its two-hundred day moving average is $23.18. The firm has a market capitalization of $852.61 million, a price-to-earnings ratio of 13.83 and a beta of 1.09. Westlake Chemical Partners LP has a 12 month low of $21.19 and a 12 month high of $25.04.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last issued its earnings results on Monday, February 24th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. The company had revenue of $290.06 million for the quarter, compared to analysts' expectations of $262.00 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. On average, research analysts expect that Westlake Chemical Partners LP will post 1.55 EPS 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. Stockholders of record on Friday, February 7th were issued a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a dividend yield of 7.79%. This is a boost from Westlake Chemical Partners's previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, February 7th. Westlake Chemical Partners's dividend payout ratio is presently 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.