Westlake Chemical Partners LP $WLKP Shares Bought by ING Groep NV

ING Groep NV raised its holdings in Westlake Chemical Partners LP (NYSE:WLKP) by 152.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,000 shares of the basic materials company’s stock after purchasing an additional 32,000 shares during the period. ING Groep NV’s holdings in Westlake Chemical Partners were worth $1,112,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Osaic Holdings Inc. raised its position in shares of Westlake Chemical Partners by 45.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 3,187 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Westlake Chemical Partners by 25.0% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 12,500 shares of the basic materials company’s stock worth $262,000 after buying an additional 2,500 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Westlake Chemical Partners in the second quarter worth $387,000. Envestnet Asset Management Inc. lifted its position in shares of Westlake Chemical Partners by 4.4% in the second quarter. Envestnet Asset Management Inc. now owns 17,629 shares of the basic materials company’s stock valued at $389,000 after acquiring an additional 751 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Westlake Chemical Partners by 12.6% in the second quarter. Apollon Wealth Management LLC now owns 18,631 shares of the basic materials company’s stock valued at $412,000 after acquiring an additional 2,084 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on WLKP shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Westlake Chemical Partners in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Westlake Chemical Partners Stock Up 0.8%

WLKP opened at $21.32 on Friday. The firm has a 50 day moving average price of $20.21 and a 200 day moving average price of $20.45. The company has a market cap of $751.53 million, a PE ratio of 15.23, a price-to-earnings-growth ratio of 2.27 and a beta of 0.59. Westlake Chemical Partners LP has a 1 year low of $17.75 and a 1 year high of $25.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.32 and a current ratio of 2.37.

Westlake Chemical Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Friday, February 6th will be paid a dividend of $0.4714 per share. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Friday, February 6th. Westlake Chemical Partners’s payout ratio is currently 135.00%.

Westlake Chemical Partners Profile

Westlake Chemical Partners LP (NYSE: WLKP) is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.

WLKP’s operations are organized into two primary segments: olefins and vinyls.