Westlake Chemical Partners (NYSE:WLKP) Releases Earnings Results, Misses Estimates By $0.01 EPS

Westlake Chemical Partners (NYSE:WLKP) released its quarterly earnings data on Wednesday. The basic materials company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01), Zacks reports. Westlake Chemical Partners had a net margin of 4.56% and a return on equity of 6.25%. The firm had revenue of $284.67 million during the quarter, compared to analysts’ expectations of $280.76 million. During the same period in the previous year, the business earned $0.42 earnings per share.

Westlake Chemical Partners Price Performance

Shares of NYSE WLKP traded up $0.13 during trading on Thursday, hitting $22.09. The company had a trading volume of 9,837 shares, compared to its average volume of 26,985. The company has a market cap of $778.23 million, a P/E ratio of 14.31 and a beta of 1.08. Westlake Chemical Partners has a 52 week low of $20.86 and a 52 week high of $23.68. The business’s 50-day moving average is $22.20 and its 200 day moving average is $22.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.94 and a current ratio of 4.02.

Westlake Chemical Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 13th will be issued a $0.4714 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.89 annualized dividend and a dividend yield of 8.54%. Westlake Chemical Partners’s dividend payout ratio is currently 122.73%.

Analyst Ratings Changes

Separately, StockNews.com raised Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th.

Insider Buying and Selling at Westlake Chemical Partners

In other news, SVP Andrew Kenner bought 5,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were bought at an average cost of $22.23 per share, with a total value of $111,150.00. Following the purchase, the senior vice president now directly owns 150,839 shares in the company, valued at $3,353,150.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have purchased 24,230 shares of company stock valued at $537,587. Corporate insiders own 1.10% of the company’s stock.

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.