Westlake Chemical Partners (NYSE:WLKP) Issues Quarterly Earnings Results

Westlake Chemical Partners (NYSE:WLKP) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03), Yahoo Finance reports. Westlake Chemical Partners had a net margin of 4.64% and a return on equity of 6.32%. The business had revenue of $284.17 million during the quarter, compared to analyst estimates of $270.28 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share.

Westlake Chemical Partners Stock Performance

Shares of WLKP traded down $0.34 during midday trading on Wednesday, reaching $22.66. The stock had a trading volume of 29,489 shares, compared to its average volume of 55,613. The firm has a 50 day simple moving average of $22.81 and a 200-day simple moving average of $22.49. Westlake Chemical Partners has a one year low of $20.91 and a one year high of $23.68. The firm has a market cap of $798.27 million, a PE ratio of 14.89 and a beta of 1.12. The company has a current ratio of 5.21, a quick ratio of 5.09 and a debt-to-equity ratio of 0.47.

Westlake Chemical Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th will be given a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.32%. The ex-dividend date of this dividend is Monday, August 12th. Westlake Chemical Partners’s dividend payout ratio (DPR) is presently 122.08%.

Insider Buying and Selling

In related news, SVP Andrew Kenner bought 7,178 shares of Westlake Chemical Partners stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $22.07 per share, with a total value of $158,418.46. Following the acquisition, the senior vice president now owns 168,017 shares of the company’s stock, valued at approximately $3,708,135.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

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.