Westlake Chemical Partners (NYSE:WLKP) Releases Earnings Results

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, 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 Trading Up 0.1 %

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

Westlake Chemical Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be issued a $0.4714 dividend. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a yield of 7.80%. The ex-dividend date is Friday, February 7th. Westlake Chemical Partners’s payout ratio is currently 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.