Geneos Wealth Management Inc. Purchases 812 Shares of Westlake Chemical Partners LP (NYSE:WLKP)

Geneos Wealth Management Inc. grew its holdings in Westlake Chemical Partners LP (NYSE:WLKP) by 32.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,337 shares of the basic materials company’s stock after purchasing an additional 812 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Westlake Chemical Partners were worth $77,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in WLKP. Wilmington Savings Fund Society FSB acquired a new stake in Westlake Chemical Partners in the 3rd quarter worth $36,000. Future Financial Wealth Managment LLC bought a new position in Westlake Chemical Partners during the third quarter valued at about $78,000. Apollon Wealth Management LLC raised 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 valued at $334,000 after acquiring an additional 1,041 shares in the last quarter. Hilltop Holdings Inc. lifted its position in shares of Westlake Chemical Partners by 2.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 27,216 shares of the basic materials company’s stock worth $610,000 after acquiring an additional 711 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Westlake Chemical Partners by 2,141.0% during the 3rd quarter. International Assets Investment Management LLC now owns 32,763 shares of the basic materials company’s stock worth $734,000 after purchasing an additional 31,301 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Westlake Chemical Partners Stock Performance

Shares of NYSE WLKP opened at $24.42 on Friday. The firm has a market capitalization of $860.38 million, a price-to-earnings ratio of 13.95 and a beta of 1.10. Westlake Chemical Partners LP has a one year low of $21.19 and a one year high of $24.66. The business has a fifty day simple moving average of $23.64 and a 200 day simple moving average of $22.97. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.15. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. The company had revenue of $277.00 million during the quarter, compared to analysts’ expectations of $244.16 million. During the same quarter in the prior year, the company posted $0.37 EPS. Sell-side analysts expect that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be paid a $0.4714 dividend. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a dividend yield of 7.72%. The ex-dividend date is Friday, February 7th. Westlake Chemical Partners’s dividend payout ratio is currently 108.00%.

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, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.