$0.45 EPS Expected for Westlake Chemical Partners LP (WLKP) This Quarter

Equities research analysts forecast that Westlake Chemical Partners LP (NYSE:WLKP) will post earnings of $0.45 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Westlake Chemical Partners’ earnings. Westlake Chemical Partners reported earnings per share of $0.35 in the same quarter last year, which indicates a positive year-over-year growth rate of 28.6%. The company is scheduled to issue its next earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Westlake Chemical Partners will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.80 to $1.86. For the next financial year, analysts expect that the firm will report earnings of $1.88 per share, with EPS estimates ranging from $1.80 to $1.96. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Westlake Chemical Partners.

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Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Westlake Chemical Partners had a return on equity of 5.13% and a net margin of 4.15%. The firm had revenue of $308.60 million during the quarter, compared to the consensus estimate of $335.90 million. During the same period last year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis.

A number of research firms have commented on WLKP. ValuEngine downgraded Westlake Chemical Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded Westlake Chemical Partners from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Deutsche Bank began coverage on Westlake Chemical Partners in a report on Wednesday, January 3rd. They issued a “buy” rating for the company. TheStreet raised Westlake Chemical Partners from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. Finally, B. Riley set a $26.00 target price on Westlake Chemical Partners and gave the company a “hold” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Westlake Chemical Partners presently has a consensus rating of “Hold” and an average price target of $27.30.

In other news, SVP Lawrence E. Teel purchased 5,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was acquired at an average price of $22.75 per share, for a total transaction of $113,750.00. Following the completion of the transaction, the senior vice president now directly owns 5,900 shares in the company, valued at approximately $134,225. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Steven Bender purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $23.77 per share, with a total value of $47,540.00. Following the transaction, the chief financial officer now owns 12,000 shares of the company’s stock, valued at $285,240. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 11,500 shares of company stock valued at $264,560.

Several hedge funds have recently made changes to their positions in the company. Eagle Global Advisors LLC increased its position in shares of Westlake Chemical Partners by 28.6% in the fourth quarter. Eagle Global Advisors LLC now owns 13,500 shares of the basic materials company’s stock valued at $337,000 after buying an additional 3,000 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Westlake Chemical Partners by 26.5% in the fourth quarter. Glenmede Trust Co. NA now owns 29,610 shares of the basic materials company’s stock valued at $738,000 after buying an additional 6,200 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Westlake Chemical Partners in the fourth quarter valued at $344,000. Tiedemann Wealth Management LLC increased its position in shares of Westlake Chemical Partners by 20.4% in the third quarter. Tiedemann Wealth Management LLC now owns 175,730 shares of the basic materials company’s stock valued at $3,989,000 after buying an additional 29,810 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Westlake Chemical Partners in the third quarter valued at $923,000. Institutional investors and hedge funds own 48.01% of the company’s stock.

Westlake Chemical Partners stock opened at $22.35 on Thursday. Westlake Chemical Partners has a one year low of $21.10 and a one year high of $25.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.75 and a quick ratio of 5.61. The firm has a market capitalization of $720.50, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07.

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Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP is a limited partnership formed by Westlake Chemical Corporation (Westlake). The Company operates, acquires and develops ethylene production facilities and other assets. Its business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCo sells ethylene to Westlake and others, as well as sells co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen.

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