Citigroup Inc. Raises Position in Westlake Chemical Partners LP (WLKP)

Citigroup Inc. increased its position in shares of Westlake Chemical Partners LP (NYSE:WLKP) by 27,347.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,447 shares of the basic materials company’s stock after purchasing an additional 27,347 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Westlake Chemical Partners worth $679,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of WLKP. Bank of New York Mellon Corp increased its position in shares of Westlake Chemical Partners by 9.9% during the first quarter. Bank of New York Mellon Corp now owns 60,576 shares of the basic materials company’s stock worth $1,523,000 after purchasing an additional 5,438 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Westlake Chemical Partners by 1,955.0% during the first quarter. JPMorgan Chase & Co. now owns 11,200 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 10,655 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Westlake Chemical Partners by 91.4% during the first quarter. Renaissance Technologies LLC now owns 83,535 shares of the basic materials company’s stock worth $2,101,000 after purchasing an additional 39,888 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Westlake Chemical Partners during the first quarter worth approximately $126,000. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Westlake Chemical Partners by 14.7% during the second quarter. Duff & Phelps Investment Management Co. now owns 311,460 shares of the basic materials company’s stock worth $7,709,000 after purchasing an additional 40,000 shares in the last quarter. Hedge funds and other institutional investors own 73.25% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Citigroup Inc. Raises Position in Westlake Chemical Partners LP (WLKP)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://ledgergazette.com/2017/10/11/citigroup-inc-raises-position-in-westlake-chemical-partners-lp-wlkp.html.

Shares of Westlake Chemical Partners LP (NYSE:WLKP) opened at 22.50 on Wednesday. The company’s 50 day moving average price is $23.46 and its 200 day moving average price is $24.33. Westlake Chemical Partners LP has a 12 month low of $19.25 and a 12 month high of $26.25. The stock has a market capitalization of $608.83 million, a PE ratio of 15.83 and a beta of 1.21.

Westlake Chemical Partners (NYSE:WLKP) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.05). Westlake Chemical Partners had a net margin of 3.60% and a return on equity of 4.34%. The firm had revenue of $290.11 million during the quarter, compared to analysts’ expectations of $381.59 million. During the same period in the pre

Several other institutional investors and hedge funds have also recently modified their holdings of WLKP. Bank of New York Mellon Corp increased its position in shares of Westlake Chemical Partners by 9.9% during the first quarter. Bank of New York Mellon Corp now owns 60,576 shares of the basic materials company’s stock worth $1,523,000 after purchasing an additional 5,438 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Westlake Chemical Partners by 1,955.0% during the first quarter. JPMorgan Chase & Co. now owns 11,200 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 10,655 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Westlake Chemical Partners by 91.4% during the first quarter. Renaissance Technologies LLC now owns 83,535 shares of the basic materials company’s stock worth $2,101,000 after purchasing an additional 39,888 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Westlake Chemical Partners during the first quarter worth approximately $126,000. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Westlake Chemical Partners by 14.7% during the second quarter. Duff & Phelps Investment Management Co. now owns 311,460 shares of the basic materials company’s stock worth $7,709,000 after purchasing an additional 40,000 shares in the last quarter. Hedge funds and other institutional investors own 73.25% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Citigroup Inc. Raises Position in Westlake Chemical Partners LP (WLKP)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://ledgergazette.com/2017/10/11/citigroup-inc-raises-position-in-westlake-chemical-partners-lp-wlkp.html.

Shares of Westlake Chemical Partners LP (NYSE:WLKP) opened at 22.50 on Wednesday. The company’s 50 day moving average price is $23.46 and its 200 day moving average price is $24.33. Westlake Chemical Partners LP has a 12 month low of $19.25 and a 12 month high of $26.25. The stock has a market capitalization of $608.83 million, a PE ratio of 15.83 and a beta of 1.21.

Westlake Chemical Partners (NYSE:WLKP) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.05). Westlake Chemical Partners had a net margin of 3.60% and a return on equity of 4.34%. The firm had revenue of $290.11 million during the quarter, compared to analysts’ expectations of $381.59 million. During the same period in the previous year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 37.6% on a year-over-year basis. Equities analysts anticipate that Westlake Chemical Partners LP will post $1.59 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Westlake Chemical Partners (NYSE:WLKP)

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