Westlake Chemical Partners (NYSE:WLKP) Announces Earnings Results

Westlake Chemical Partners (NYSE:WLKP) released its quarterly earnings data on Wednesday. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01), Zacks reports. Westlake Chemical Partners had a return on equity of 6.29% and a net margin of 4.64%. The business had revenue of $284.67 million for the quarter, compared to analyst estimates of $280.76 million. During the same period in the prior year, the company posted $0.42 earnings per share.

Westlake Chemical Partners Stock Down 1.6 %

WLKP stock opened at $22.10 on Friday. The stock has a market capitalization of $778.54 million, a PE ratio of 14.35 and a beta of 1.08. The company has a fifty day moving average of $22.20 and a 200-day moving average of $22.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.94 and a current ratio of 4.02. Westlake Chemical Partners has a one year low of $20.86 and a one year high of $23.68.

Westlake Chemical Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 13th will be given a $0.4714 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.89 dividend on an annualized basis and a yield of 8.53%. Westlake Chemical Partners’s dividend payout ratio (DPR) is 122.08%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th.

Insider Transactions at Westlake Chemical Partners

In other Westlake Chemical Partners news, SVP Andrew Kenner bought 10,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $22.12 per share, with a total value of $221,200.00. Following the purchase, the senior vice president now owns 136,609 shares in the company, valued at approximately $3,021,791.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 24,230 shares of company stock worth $537,587 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

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.