Last Updated: 19 Sep 2024
Executive Summary
Westlake Chemical Partners LP (WLKP) is a publicly traded partnership that acquires, develops, and operates ethylene production facilities and related assets in the United States. The company has a market capitalization of $787.4 million and trades on the NYSE under the ticker symbol WLKP.
Company Overview
Westlake Chemical Partners LP was formed in 2014 and is headquartered in Houston, Texas. The company's primary business is the production and sale of ethylene, a key petrochemical used in the manufacturing of plastics, synthetic fibers, and other products. Westlake Chemical Partners LP operates three ethylene production facilities in Texas and Louisiana.
Fundamental Analysis
Westlake Chemical Partners LP has a strong financial profile. The company's revenue has grown steadily in recent years, and its profit margin has remained stable. The company's earnings per share (EPS) have also grown in recent years, and its dividend yield is currently 0.0844%.
Technical Analysis
Westlake Chemical Partners LP's stock price has been trending higher in recent months. The stock's 50-day moving average is currently $22.75, and its 200-day moving average is currently $22.43. The stock's relative strength index (RSI) is currently 56.28, which indicates that the stock is neither overbought nor oversold.
Short Term Outlook
Westlake Chemical Partners LP's stock price is expected to continue to trend higher in the short term. The company's strong financial performance and positive technical indicators suggest that the stock is a good investment for short-term traders.
Long Term Outlook
Westlake Chemical Partners LP's long-term outlook is also positive. The company's ethylene production facilities are strategically located in the United States, and the demand for ethylene is expected to grow in the coming years. The company's strong financial position and experienced management team also suggest that the company is well-positioned for long-term growth.
Analyst Recommendations
Two analysts have issued buy ratings on Westlake Chemical Partners LP in the past three months. The average analyst target price for the stock is $25.33, which represents a potential upside of 13.3% from the current price.
