Westlake Chemical Partners (NYSE:WLKP) Stock Crosses Above Fifty Day Moving Average - What's Next?

Shares of Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $23.13 and traded as high as $23.21. Westlake Chemical Partners shares last traded at $23.14, with a volume of 34,126 shares changing hands.

Westlake Chemical Partners Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.46 and a current ratio of 4.53. The stock has a market capitalization of $815.43 million, a P/E ratio of 13.22 and a beta of 1.11. The business has a 50-day moving average price of $23.14 and a 200 day moving average price of $22.80.

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

Westlake Chemical Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were paid 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 8.14%. Westlake Chemical Partners's dividend payout ratio is currently 107.43%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Westlake Chemical Partners during the second quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Westlake Chemical Partners in the 3rd quarter worth $36,000. Future Financial Wealth Managment LLC purchased a new position in shares of Westlake Chemical Partners in the third quarter worth $78,000. Rothschild Investment LLC bought a new position in shares of Westlake Chemical Partners during the second quarter valued at $181,000. Finally, Apollon Wealth Management LLC boosted its position in shares of Westlake Chemical Partners by 7.5% during the third quarter. Apollon Wealth Management LLC now owns 14,909 shares of the basic materials company's stock valued at $334,000 after buying an additional 1,041 shares during the last quarter. 78.28% of the stock is owned by hedge funds and other 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.