Westlake Chemical Partners (NYSE:WLKP) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.77 and traded as high as $23.98. Westlake Chemical Partners shares last traded at $23.54, with a volume of 90,530 shares changing hands.

Westlake Chemical Partners Stock Down 0.4 %

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 company has a market cap of $829.53 million, a PE ratio of 13.45 and a beta of 1.11. The company's fifty day moving average is $22.99 and its 200-day moving average is $22.77.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.15. The firm had revenue of $277.00 million for the quarter, compared to the consensus estimate of $244.16 million. Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. During the same period last year, the business posted $0.37 EPS. On average, analysts predict that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.471 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.88 dividend on an annualized basis and a yield of 8.00%. Westlake Chemical Partners's dividend payout ratio is currently 107.43%.

Hedge Funds Weigh In On Westlake Chemical Partners

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in Westlake Chemical Partners during the 2nd quarter worth approximately $33,000. Rothschild Investment LLC bought a new stake in shares of Westlake Chemical Partners during the 2nd quarter valued at $181,000. Future Financial Wealth Managment LLC bought a new stake in shares of Westlake Chemical Partners during the 3rd quarter valued at $78,000. Pathway Financial Advisers LLC lifted its stake in shares of Westlake Chemical Partners by 2,178.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,230,436 shares of the basic materials company's stock valued at $49,984,000 after buying an additional 2,132,523 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in Westlake Chemical Partners by 7.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 14,909 shares of the basic materials company's stock worth $334,000 after buying an additional 1,041 shares during the period. 78.28% of the stock is owned by institutional investors.

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.