Westlake Chemical Partners (WLKP) Receives New Coverage from Analysts at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein started coverage on shares of Westlake Chemical Partners (NYSE:WLKP) in a research report issued on Wednesday, The Fly reports. The brokerage set a “market perform” rating on the basic materials company’s stock.

Other analysts have also recently issued research reports about the stock. UBS Group restated a “buy” rating and issued a $29.00 target price (up previously from $28.00) on shares of Westlake Chemical Partners in a research note on Friday, March 2nd. ValuEngine upgraded shares of Westlake Chemical Partners from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. B. Riley set a $26.00 target price on shares of Westlake Chemical Partners and gave the stock a “hold” rating in a research note on Tuesday, February 20th. Finally, Zacks Investment Research cut shares of Westlake Chemical Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.63.

Shares of WLKP stock traded down $0.10 during mid-day trading on Wednesday, hitting $24.85. The stock had a trading volume of 153,087 shares, compared to its average volume of 73,364. Westlake Chemical Partners has a fifty-two week low of $21.10 and a fifty-two week high of $25.65. The stock has a market capitalization of $796.25 million, a PE ratio of 14.45, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.96 and a current ratio of 6.10.

Westlake Chemical Partners (NYSE:WLKP) last released its earnings results on Thursday, May 3rd. The basic materials company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.09). Westlake Chemical Partners had a return on equity of 5.30% and a net margin of 4.34%. The firm had revenue of $284.30 million during the quarter, compared to analyst estimates of $362.17 million. During the same quarter last year, the business posted $0.35 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. equities analysts forecast that Westlake Chemical Partners will post 2.07 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL grew its holdings in Westlake Chemical Partners by 25.1% in the first quarter. Blair William & Co. IL now owns 90,160 shares of the basic materials company’s stock valued at $2,015,000 after purchasing an additional 18,110 shares during the period. UBS Group AG grew its holdings in Westlake Chemical Partners by 1.3% in the first quarter. UBS Group AG now owns 951,879 shares of the basic materials company’s stock valued at $21,274,000 after purchasing an additional 12,393 shares during the period. Van ECK Associates Corp grew its holdings in Westlake Chemical Partners by 41.2% in the first quarter. Van ECK Associates Corp now owns 120,322 shares of the basic materials company’s stock valued at $2,689,000 after purchasing an additional 35,092 shares during the period. Tiedemann Advisors LLC grew its holdings in Westlake Chemical Partners by 11.6% in the first quarter. Tiedemann Advisors LLC now owns 323,565 shares of the basic materials company’s stock valued at $7,232,000 after purchasing an additional 33,625 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Westlake Chemical Partners by 2,847.9% in the first quarter. Wells Fargo & Company MN now owns 427,451 shares of the basic materials company’s stock valued at $9,554,000 after purchasing an additional 412,951 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP engages in the operation, acquisition and development of ethylene production facilities and related assets. It is a vertically-integrated, international manufacturer and marketer of basic chemicals, polymers, and fabricated building products. The company was founded on March 14, 2014 and is headquartered in Houston, TX.

The Fly

Analyst Recommendations for Westlake Chemical Partners (NYSE:WLKP)

Receive News & Ratings for Westlake Chemical Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical Partners and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply