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

Westlake Chemical Partners (NYSE:WLKP) issued its earnings results on Monday. The basic materials company reported $0.43 earnings per share (EPS) 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 Stock Up 0.7 %

NYSE:WLKP opened at $24.39 on Tuesday. Westlake Chemical Partners has a fifty-two week low of $21.19 and a fifty-two week high of $25.04. The stock has a market capitalization of $859.30 million, a P/E ratio of 13.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.46 and a current ratio of 4.53. The company’s 50-day simple moving average is $23.74 and its 200-day simple moving average is $23.09.

Westlake Chemical Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be issued a $0.4714 dividend. This is a boost 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 7.73%. The ex-dividend date is Friday, February 7th. Westlake Chemical Partners’s dividend payout ratio (DPR) 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.