Westlake Chemical Partners LP (WLKP) to Issue Quarterly Dividend of $0.47 on February 23rd

Westlake Chemical Partners LP (NYSE:WLKP) declared a quarterly dividend on Tuesday, January 27th. Investors of record on Friday, February 6th will be paid a dividend of 0.4714 per share by the basic materials company on Monday, February 23rd. This represents a c) annualized dividend and a yield of 8.8%. The ex-dividend date is Friday, February 6th.

Westlake Chemical Partners has increased its dividend by an average of 0.0%annually over the last three years. Westlake Chemical Partners has a dividend payout ratio of 92.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Westlake Chemical Partners to earn $1.70 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 110.6%.

Westlake Chemical Partners Stock Up 0.9%

Shares of NYSE WLKP opened at $21.37 on Thursday. The stock has a market capitalization of $753.26 million, a PE ratio of 15.26, a P/E/G ratio of 2.27 and a beta of 0.59. The company has a quick ratio of 2.32, a current ratio of 2.37 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average of $19.57 and a 200-day moving average of $20.49. Westlake Chemical Partners has a 52-week low of $17.75 and a 52-week high of $25.04.

Westlake Chemical Partners (NYSE:WLKP) last issued its earnings results on Thursday, October 30th. The basic materials company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Westlake Chemical Partners had a return on equity of 6.00% and a net margin of 4.34%.The firm had revenue of $308.90 million during the quarter, compared to analysts’ expectations of $303.00 million. On average, analysts anticipate that Westlake Chemical Partners will post 1.55 EPS for the current year.

Institutional Trading of Westlake Chemical Partners

Hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of Westlake Chemical Partners in the second quarter valued at $32,000. Geneos Wealth Management Inc. lifted its holdings in Westlake Chemical Partners by 142.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 6,302 shares of the basic materials company’s stock worth $120,000 after buying an additional 3,708 shares in the last quarter. Osaic Holdings Inc. boosted its position in Westlake Chemical Partners by 45.8% in the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company’s stock valued at $224,000 after buying an additional 3,187 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Westlake Chemical Partners by 25.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 12,500 shares of the basic materials company’s stock valued at $262,000 after buying an additional 2,500 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Westlake Chemical Partners during the second quarter valued at about $387,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

About Westlake Chemical Partners

Westlake Chemical Partners LP (NYSE: WLKP) is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.

WLKP’s operations are organized into two primary segments: olefins and vinyls.