Westlake Chemical Partners LP (NYSE:WLKP) Receives $23.20 Consensus PT from Brokerages


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Shares of Westlake Chemical Partners LP (NYSE:WLKP) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.20.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Westlake Chemical Partners from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, December 25th. BidaskClub lowered Westlake Chemical Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, December 30th. Finally, ValuEngine upgraded Westlake Chemical Partners from a “strong sell” rating to a “sell” rating in a research note on Monday, December 21st.

A number of hedge funds have recently modified their holdings of WLKP. Bourgeon Capital Management LLC grew its position in Westlake Chemical Partners by 23.5% during the 3rd quarter. Bourgeon Capital Management LLC now owns 10,500 shares of the basic materials company’s stock worth $197,000 after acquiring an additional 2,000 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Westlake Chemical Partners by 19.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 12,043 shares of the basic materials company’s stock valued at $228,000 after buying an additional 1,971 shares during the last quarter. Williams Jones Wealth Management LLC. bought a new stake in shares of Westlake Chemical Partners in the 3rd quarter valued at about $263,000. GSA Capital Partners LLP bought a new stake in shares of Westlake Chemical Partners in the 3rd quarter valued at about $280,000. Finally, Raymond James & Associates grew its position in shares of Westlake Chemical Partners by 5.1% in the 3rd quarter. Raymond James & Associates now owns 18,836 shares of the basic materials company’s stock valued at $353,000 after buying an additional 911 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

NYSE WLKP traded down $0.33 during midday trading on Wednesday, hitting $21.66. The company had a trading volume of 79,804 shares, compared to its average volume of 79,626. The company has a market capitalization of $762.30 million, a PE ratio of 11.77, a P/E/G ratio of 3.18 and a beta of 1.06. The company has a current ratio of 7.91, a quick ratio of 7.86 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $22.08 and a 200-day moving average price of $20.19. Westlake Chemical Partners has a twelve month low of $10.31 and a twelve month high of $24.89.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.09. Westlake Chemical Partners had a return on equity of 6.83% and a net margin of 6.41%. The firm had revenue of $231.97 million during the quarter. On average, equities analysts anticipate that Westlake Chemical Partners will post 1.83 EPS for the current year.

Westlake Chemical Partners Company 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, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on a spot or contract basis.

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