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

Westlake Chemical Partners (NYSE:WLKP) posted its quarterly earnings data on Monday. The basic materials company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07, Zacks reports. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%.

Westlake Chemical Partners Trading Up 0.1 %

Shares of Westlake Chemical Partners stock opened at $24.16 on Monday. The firm’s 50 day moving average is $23.73 and its 200 day moving average is $23.08. The firm has a market capitalization of $851.37 million, a PE ratio of 13.81 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 $24.98.

Westlake Chemical Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.4714 per share. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, February 7th. This represents a $1.89 annualized dividend and a yield of 7.80%. Westlake Chemical Partners’s payout ratio is presently 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.