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

Westlake Chemical Partners (NYSE:WLKP) released its quarterly earnings results on Monday. The basic materials company reported $0.43 earnings per share for the quarter, beating 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%. The business had revenue of $290.06 million during the quarter, compared to analyst estimates of $262.00 million.

Westlake Chemical Partners Stock Down 0.9 %

Shares of Westlake Chemical Partners stock opened at $24.20 on Wednesday. The stock has a 50-day moving average price of $23.76 and a 200 day moving average price of $23.10. The company has a market cap of $852.61 million, a P/E ratio of 13.83 and a beta of 1.09. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48. Westlake Chemical Partners has a 1 year low of $21.19 and a 1 year high of $25.04.

Westlake Chemical Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were paid a $0.4714 dividend. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a yield of 7.79%. The ex-dividend date of this dividend was Friday, February 7th. Westlake Chemical Partners’s dividend payout ratio is currently 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.