Proficio Capital Partners LLC Purchases Shares of 80,990 Westlake Chemical Partners LP (NYSE:WLKP)

Proficio Capital Partners LLC purchased a new position in Westlake Chemical Partners LP (NYSE:WLKP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Westlake Chemical Partners during the third quarter valued at $36,000. Geneos Wealth Management Inc. grew its holdings in shares of Westlake Chemical Partners by 32.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock valued at $77,000 after buying an additional 812 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Westlake Chemical Partners during the fourth quarter valued at $211,000. Apollon Wealth Management LLC grew its holdings in shares of Westlake Chemical Partners by 3.4% during the fourth quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company's stock valued at $357,000 after buying an additional 512 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its holdings in shares of Westlake Chemical Partners by 2.7% during the third quarter. Hilltop Holdings Inc. now owns 27,216 shares of the basic materials company's stock valued at $610,000 after buying an additional 711 shares during the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

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Westlake Chemical Partners Stock Performance

Shares of WLKP traded down $0.22 during trading hours on Friday, reaching $23.21. 28,190 shares of the company traded hands, compared to its average volume of 46,290. The stock has a market capitalization of $817.90 million, a P/E ratio of 13.26 and a beta of 1.09. 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 12-month low of $21.19 and a 12-month high of $25.04. The business has a fifty day moving average price of $23.96 and a 200-day moving average price of $23.23.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The basic materials company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. The firm had revenue of $290.06 million for the quarter, compared to analyst estimates of $262.00 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. Equities analysts anticipate that Westlake Chemical Partners LP will post 1.55 EPS for the current fiscal year.

Westlake Chemical Partners Increases Dividend

The firm 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 represents a $1.89 annualized dividend and a yield of 8.12%. This is a positive change 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 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.