Westlake Chemical Partners (NYSE:WLKP) Posts Earnings Results, Beats Expectations 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 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%. The company had revenue of $290.06 million during the quarter, compared to the consensus estimate of $262.00 million.

Westlake Chemical Partners Stock Down 0.9 %

WLKP opened at $24.20 on Wednesday. Westlake Chemical Partners has a fifty-two week low of $21.19 and a fifty-two week high of $25.04. The business has a 50-day moving average of $23.76 and a 200-day moving average of $23.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.53 and a quick ratio of 4.46. The company has a market capitalization of $852.61 million, a PE ratio of 13.83 and a beta of 1.09.

Westlake Chemical Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were paid a dividend of $0.4714 per share. The ex-dividend date was Friday, February 7th. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47. This represents a $1.89 dividend on an annualized basis and a dividend yield of 7.79%. Westlake Chemical Partners’s dividend payout ratio (DPR) is 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.