Westlake Chemical Partners LP (NYSE:WLKP) Sees Large Increase in Short Interest

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 140,100 shares, a growth of 20.8% from the January 15th total of 116,000 shares. Currently, 0.7% of the company's shares are sold short. Based on an average daily volume of 41,800 shares, the short-interest ratio is currently 3.4 days.

Westlake Chemical Partners Stock Up 1.3 %

NYSE WLKP traded up $0.30 during trading hours on Wednesday, reaching $24.21. 22,650 shares of the company's stock were exchanged, compared to its average volume of 35,811. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.46 and a current ratio of 4.53. Westlake Chemical Partners has a one year low of $21.19 and a one year high of $24.98. The company's 50-day moving average is $23.72 and its two-hundred day moving average is $23.05. The company has a market capitalization of $853.13 million, a price-to-earnings ratio of 13.83 and a beta of 1.09.

Westlake Chemical Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be issued a dividend of $0.4714 per share. This is a boost from Westlake Chemical Partners's previous quarterly dividend of $0.47. The ex-dividend date is Friday, February 7th. This represents a $1.89 annualized dividend and a yield of 7.79%. Westlake Chemical Partners's dividend payout ratio is presently 108.00%.

Hedge Funds Weigh In On Westlake Chemical Partners

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Westlake Chemical Partners by 5.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 558,919 shares of the basic materials company's stock valued at $12,933,000 after buying an additional 28,430 shares in the last quarter. Eagle Global Advisors LLC lifted its position in Westlake Chemical Partners by 4.6% during the fourth quarter. Eagle Global Advisors LLC now owns 45,873 shares of the basic materials company's stock worth $1,062,000 after purchasing an additional 2,000 shares during the period. GeoWealth Management LLC acquired a new stake in shares of Westlake Chemical Partners during the 4th quarter worth approximately $175,000. Raymond James Financial Inc. bought a new stake in Westlake Chemical Partners during the fourth quarter worth $456,000. Finally, LPL Financial LLC increased its stake in shares of Westlake Chemical Partners by 13.8% in the 4th quarter. LPL Financial LLC now owns 35,136 shares of the basic materials company's stock valued at $813,000 after purchasing an additional 4,253 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

About Westlake Chemical Partners

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.