Westlake Chemical Partners LP (NYSE:WLKP) Short Interest Up 20.8% in January

Westlake Chemical Partners LP (NYSE:WLKP) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 140,100 shares, an increase of 20.8% from the January 15th total of 116,000 shares. Based on an average daily trading volume, of 41,800 shares, the short-interest ratio is currently 3.4 days. Currently, 0.7% of the company’s stock are sold short.

Westlake Chemical Partners Stock Up 0.4 %

NYSE:WLKP traded up $0.09 during trading hours on Monday, hitting $23.64. 99,281 shares of the company traded hands, compared to its average volume of 29,747. The firm’s 50-day simple moving average is $23.73 and its 200-day simple moving average is $23.04. The company has a market cap of $833.07 million, a PE ratio of 13.51 and a beta of 1.09. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. Westlake Chemical Partners has a one year low of $21.19 and a one year high of $24.98.

Westlake Chemical Partners Increases Dividend

The firm also recently announced 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 represents a $1.89 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date is Friday, February 7th. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47. Westlake Chemical Partners’s payout ratio is presently 108.00%.

Institutional Trading of Westlake Chemical Partners

A number of hedge funds have recently bought and sold shares of WLKP. Wilmington Savings Fund Society FSB bought a new position in Westlake Chemical Partners during the third quarter valued at $36,000. Geneos Wealth Management Inc. raised its position in shares of Westlake Chemical Partners by 32.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 812 shares during the period. GeoWealth Management LLC purchased a new stake in shares of Westlake Chemical Partners during the 4th quarter valued at approximately $175,000. Allspring Global Investments Holdings LLC purchased a new position in Westlake Chemical Partners in the 4th quarter valued at approximately $211,000. Finally, Apollon Wealth Management LLC raised its holdings in Westlake Chemical Partners by 7.5% during 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 during the period. 78.28% of the stock is currently owned by institutional investors.

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.