Energy Income Partners Disclosed New Westlake Chemical Partners Lp Position

February 15, 2018 - By Darrin Black

 Energy Income Partners Disclosed New Westlake Chemical Partners Lp Position

Investors sentiment increased to 1.44 in 2017 Q3. Its up 0.28, from 1.16 in 2017Q2. It is positive, as 23 investors sold Westlake Chemical Partners LP shares while 65 reduced holdings. 61 funds opened positions while 66 raised stakes. 44.55 million shares or 0.74% less from 44.89 million shares in 2017Q2 were reported.

California State Teachers Retirement Sys holds 58,445 shares. Financial Mgmt Pro owns 500 shares or 0% of their US portfolio. 985 were reported by 1832 Asset Mngmt Limited Partnership. Bamco Ny, New York-based fund reported 350,000 shares. Trexquant Invest Lp holds 0.57% or 27,039 shares in its portfolio. Parallax Volatility Advisers L P owns 34 shares for 0% of their portfolio. Winfield Associates Inc holds 0% or 10 shares. Walthausen Co holds 0.71% of its portfolio in Westlake Chemical Partners LP (NYSE:WLKP) for 91,360 shares. Pub Employees Retirement Association Of Colorado holds 0% or 1,120 shares in its portfolio. Ftb Advsr holds 0% of its portfolio in Westlake Chemical Partners LP (NYSE:WLKP) for 427 shares. Moreover, Arosa Cap Management Limited Partnership has 0.45% invested in Westlake Chemical Partners LP (NYSE:WLKP) for 38,100 shares. Clinton reported 13,044 shares. Ameritas Investment Inc invested in 7,600 shares or 0.03% of the stock. Boothbay Fund Mgmt Limited Liability Corp invested in 3,060 shares or 0.04% of the stock. Ifc Holding Fl holds 0.05% of its portfolio in Westlake Chemical Partners LP (NYSE:WLKP) for 9,236 shares.

The New Energy Income Partners Holding in Westlake Chemical Partners Lp

Energy Income Partners reported SC 13G/A form with the SEC for Westlake Chemical Partners Lp. Access it here: 000114420418008791. As reported by Energy Income Partners, the filler owns 3.7% or 1,178,371 shares of the -company.

Westlake Chemical Partners Lp stake is new for [reportingPerson]. Date of activity: December 31, 2017. This shows Energy Income Partners’s positive view for Westlake Chemical Partners Lp. For a hedge fund managing $4.12 billion in assets and having 13+ experts this is interesting position.

The hedge fund is investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Energy Income Partners’s portfolio is in the sector.

Westlake Chemical Partners Lp Institutional Sentiment

Filings show 259 investors own Westlake Chemical Partners Lp. The ownership in Q3 2015 is very high, at Infinity of the outstanding shares. This is increased by 3018303. 39947038 were owned by these investors. 45 funds opened new Westlake Chemical Partners Lp stakes, 106 increased positions. There were 50 that closed positions and 72 reduced them.

2 investors had the stock in their top 10. Some are: Robotti Robert, Price Michael F..

Robert Joseph Caruso Select Equity Group Lp is an investor bullish on Westlake Chemical Partners Lp, owning 3271379 shares as of Q3 2015 for less than 0.01% of its portfolio. Hite Hedge Asset Management Llc owns 180038 shares or 1.30% of its portfolio. E9 Vr Advisory Services Ltd have 5.17% of its portfolio for 66000 shares. Further, Lorem Ipsum Management Llc reported stake worth 0.95% of its portfolio. The NY Pergamon Offshore Advisors Lp owns 24297 shares. Westlake Chemical Partners Lp is 1.37% of its portfolio.

Business 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. As of December 31, 2016, OpCo’s assets included three ethylene production facilities, which primarily convert ethane into ethylene, and a 200-mile ethylene pipeline. As of December 31, 2016, OpCo owned two ethylene production facilities at Westlake’s Lake Charles, Louisiana site (Petro 1 and Petro 2, collectively Lake Charles Olefins), and one ethylene production facility at Westlake’s Calvert City, Kentucky site (Calvert City Olefins), with an annual capacity of approximately 630 million pounds.

SEC Form 13G.

Energy Income Partners website.

Analysts await Westlake Chemical Partners LP (NYSE:WLKP) to report earnings on February, 20. They expect $0.43 earnings per share, up 10.26 % or $0.04 from last year’s $0.39 per share. WLKP’s profit will be $13.86M for 13.66 P/E if the $0.43 EPS becomes a reality. After $0.47 actual earnings per share reported by Westlake Chemical Partners LP for the previous quarter, Wall Street now forecasts -8.51 % negative EPS growth.

The stock increased 0.86% or $0.2 during the last trading session, reaching $23.5. About 7,668 shares traded. Westlake Chemical Partners LP (NYSE:WLKP) has risen 21.83% since February 15, 2017 and is uptrending. It has outperformed by 5.13% the S&P500.

Westlake Chemical Partners LP operates, acquires, and develops ethylene production facilities and related assets in the United States. The company has market cap of $757.52 million. The firm operates ethylene production facilities, which primarily convert ethane into ethylene. It has a 14.88 P/E ratio. It also sells ethylene co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on a spot or contract basis.

Westlake Chemical Partners LP (NYSE:WLKP) Ratings Coverage

Among 5 analysts covering Westlake Chemical Partners (NYSE:WLKP), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Westlake Chemical Partners has $30 highest and $24.0 lowest target. $27.10’s average target is 15.32% above currents $23.5 stock price. Westlake Chemical Partners had 10 analyst reports since August 5, 2015 according to SRatingsIntel. The stock has “Outperform” rating by FBR Capital on Wednesday, April 12. The stock has “Neutral” rating by B. Riley & Co on Tuesday, December 19. The firm earned “Hold” rating on Wednesday, December 6 by Tudor Pickering. On Friday, January 20 the stock rating was upgraded by Tudor Pickering to “Buy”. Barclays Capital maintained the stock with “Equal Weight” rating in Wednesday, August 5 report. FBR Capital initiated Westlake Chemical Partners LP (NYSE:WLKP) rating on Friday, September 9. FBR Capital has “Outperform” rating and $28 target.

More notable recent Westlake Chemical Partners LP (NYSE:WLKP) news were published by: Seekingalpha.com which released: “Westlake Chemical Partners’ (WLKP) CEO Albert Chao on Q1 2017 Results …” on May 03, 2017, also Seekingalpha.com with their article: “Westlake Chemical Partners: The Cyclical Nature Of The Chemical Industry” published on April 30, 2017, Seekingalpha.com published: “Westlake Chemical Partners – Equity Issuance Dip And Asset Drop-Down Create 65 …” on September 27, 2017. More interesting news about Westlake Chemical Partners LP (NYSE:WLKP) were released by: Marketwatch.com and their article: “Westlake Chemical Partners LP” published on July 20, 2017 as well as Seekingalpha.com‘s news article titled: “Westlake Chemical Partners’ (WLKP) CEO Albert Chao on Q2 2017 Results …” with publication date: August 06, 2017.

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