Westlake Chemical Partners (NYSE:WLKP) Announces Earnings Results

Westlake Chemical Partners (NYSE:WLKP) posted its quarterly earnings results on Monday. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07, Zacks reports. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%.

Westlake Chemical Partners Stock Performance

WLKP opened at $24.39 on Tuesday. Westlake Chemical Partners has a 12-month low of $21.19 and a 12-month high of $25.04. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $859.30 million, a PE ratio of 13.93 and a beta of 1.09. The firm has a 50 day moving average of $23.74 and a two-hundred day moving average of $23.09.

Westlake Chemical Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be given a dividend of $0.4714 per share. The ex-dividend date is Friday, February 7th. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.47. This represents a $1.89 dividend on an annualized basis and a yield of 7.73%. Westlake Chemical Partners’s dividend payout ratio (DPR) is currently 107.43%.

About Westlake Chemical Partners

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.