Westlake Chemical Partners (NYSE:WLKP) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

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 return on equity of 7.31% and a net margin of 5.40%.

Westlake Chemical Partners Stock Up 0.1 %

Shares of NYSE WLKP opened at $24.16 on Monday. The stock has a market capitalization of $851.37 million, a P/E ratio of 13.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.53 and a quick ratio of 4.46. Westlake Chemical Partners has a 1 year low of $21.19 and a 1 year high of $24.98. The company has a 50-day moving average price of $23.73 and a 200-day moving average price of $23.08.

Westlake Chemical Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be given a $0.4714 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.89 annualized dividend and a yield of 7.80%. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47. Westlake Chemical Partners’s dividend payout ratio (DPR) is presently 107.43%.

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.