Westlake Chemical Partners (NYSE:WLKP) Upgraded by Wall Street Zen to Strong-Buy Rating

Westlake Chemical Partners (NYSE:WLKP) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Westlake Chemical Partners in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Westlake Chemical Partners Stock Performance

Shares of Westlake Chemical Partners stock opened at $21.32 on Friday. Westlake Chemical Partners has a 12 month low of $17.75 and a 12 month high of $25.04. The firm has a market capitalization of $751.53 million, a P/E ratio of 15.23, a P/E/G ratio of 2.27 and a beta of 0.59. The company has a current ratio of 2.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $20.21 and a two-hundred day simple moving average of $20.45.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its stake in Westlake Chemical Partners by 12.6% during the 2nd quarter. Apollon Wealth Management LLC now owns 18,631 shares of the basic materials company’s stock valued at $412,000 after purchasing an additional 2,084 shares during the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of Westlake Chemical Partners by 104.2% in the third quarter. Gilman Hill Asset Management LLC now owns 77,442 shares of the basic materials company’s stock worth $1,626,000 after purchasing an additional 39,519 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Westlake Chemical Partners by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 105,907 shares of the basic materials company’s stock valued at $2,339,000 after purchasing an additional 2,517 shares in the last quarter. Energy Income Partners LLC lifted its holdings in shares of Westlake Chemical Partners by 1.4% during the second quarter. Energy Income Partners LLC now owns 1,774,544 shares of the basic materials company’s stock valued at $39,200,000 after purchasing an additional 24,459 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Westlake Chemical Partners by 4.4% during the second quarter. Envestnet Asset Management Inc. now owns 17,629 shares of the basic materials company’s stock valued at $389,000 after buying an additional 751 shares during the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Westlake Chemical Partners Company 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.