Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Westlake Chemical Partners LP before investing.

In this article, we go over a few key elements for understanding Westlake Chemical Partners LP’s stock price such as:

• Westlake Chemical Partners LP’s current stock price and volume
• Why Westlake Chemical Partners LP’s stock price changed recently
• Upgrades and downgrades for WLKP from analysts
• WLKP’s stock price momentum as measured by its relative strength

About Westlake Chemical Partners LP (WLKP)

Before we jump into Westlake Chemical Partners LP’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

Westlake Chemical Partners LP is a limited partnership formed by Westlake Corporation to operate, acquire, and develop ethylene production facilities and other qualified assets. The Company’s business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCos assets consist of three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, and an ethylene pipeline. The ethylene production facilities primarily convert ethane into ethylene and have an aggregate annual capacity of approximately 3.7 billion pounds, and a 200-mile ethylene pipeline. It owns two ethylene production facilities at Westlake's Lake Charles, Louisiana site (Petro 1 and Petro 2, collectively Lake Charles Olefins), with an annual combined capacity of approximately 3.0 billion pounds. The Company owns one ethylene production facility at Westlake's Calvert City, Kentucky site (Calvert City Olefins), with an annual capacity of approximately 730 million pounds.

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Westlake Chemical Partners LP’s Stock Price as of Market Close

As of May 31, 2024, 4:00 PM, CST, Westlake Chemical Partners LP’s stock price was $23.37.

Westlake Chemical Partners LP is up 4.8% from its previous closing price of $22.30.

During the last market session, Westlake Chemical Partners LP’s stock traded between $22.22 and $22.45. Currently, there are 35.23 million shares of Westlake Chemical Partners LP stock available for purchase.

Westlake Chemical Partners LP’s price-earnings (P/E) ratio is currently at 14.5, which is low compared to the Chemicals - Commodity industry median of 21.5. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Westlake Chemical Partners LP Stock Price History

Westlake Chemical Partners LP’s (WLKP) price is currently up 6.91% so far this month.

During the month of May, Westlake Chemical Partners LP’s stock price has reached a high of $23.41 and a low of $21.69.

Over the last year, Westlake Chemical Partners LP has hit prices as high as $23.68 and as low as $20.91. Year to date, Westlake Chemical Partners LP’s stock is down 0.55%.

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What Caused Westlake Chemical Partners LP Stock’s Price to Rise?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of May 30, 2024, there were 0 analysts who downgraded Westlake Chemical Partners LP’s stock and 2 analysts who upgraded over the last month.

Additionally, you'll want to evaluate Westlake Chemical Partners LP’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Westlake Chemical Partners LP’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Westlake Chemical Partners LP’s current valuation based on AAII’s Value Grade is a A, which means it is considered to be Deep Value.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Westlake Chemical Partners LP (WLKP) by visiting AAII Stock Evaluator.

Relative Price Strength of Westlake Chemical Partners LP

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of May 30, 2024, Westlake Chemical Partners LP has a weighted four-quarter relative price strength of -4.05%, which translates to a Momentum Score of 49 and is considered to be Average.

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Westlake Chemical Partners LP Stock Price: Bottom Line

As of May 31, 2024, Westlake Chemical Partners LP’s stock price is $23.37, which is up 4.8% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Westlake Chemical Partners LP stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

Subscribing to AAII's A+ Investor provides access to comprehensive analytics and insights for confident investing.