Westlake Chemical Partners (NYSE:WLKP) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

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

Westlake Chemical Partners Stock Down 1.5 %

WLKP traded down $0.34 during midday trading on Wednesday, reaching $22.66. The company’s stock had a trading volume of 29,489 shares, compared to its average volume of 55,613. The stock’s 50-day moving average is $22.81 and its 200-day moving average is $22.49. Westlake Chemical Partners has a 1 year low of $20.91 and a 1 year high of $23.68. The firm has a market capitalization of $798.27 million, a price-to-earnings 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 Dividend Announcement

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

Insider Activity at Westlake Chemical Partners

In related news, SVP Andrew Kenner bought 2,291 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $22.23 per share, for a total transaction of $50,928.93. Following the completion of the transaction, the senior vice president now owns 170,308 shares of the company’s stock, valued at $3,785,946.84. The acquisition was disclosed in a 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.