Westlake Chemical Partners LP (NYSE:WLKP) Stock to Pay Quarterly Dividend of $0.47

Key Points

• Westlake Chemical Partners declared a quarterly dividend of $0.4714 per share, payable December 1 to shareholders of record on November 13. The dividend annualizes to approximately $1.89 per share and yields 8.6%.
• The dividend is currently supported by earnings, with a payout ratio of 92.6%, but analysts project a future payout ratio above 100% as expected earnings of $1.70 per share may not cover the roughly $1.88 annual dividend.
• Shares opened at $21.86 after rising 2.8%; the company’s latest quarterly earnings of $0.40 per share narrowly missed estimates, while revenue of $297.1 million was below the $537 million consensus forecast.

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) announced a quarterly dividend on Monday, November 2nd. Investors of record on Friday, November 13th will be given a dividend of $0.4714 per share by the basic materials company on Tuesday, December 1st. This represents a $1.89 annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend is Friday, November 13th.

Westlake Chemical Partners has a dividend payout ratio of 92.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Westlake Chemical Partners to earn $1.70 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 110.6%.

Westlake Chemical Partners Stock Up 2.8%

Shares of Westlake Chemical Partners stock opened at $21.86 on Tuesday. The stock has a market capitalization of $770.71 million, a P/E ratio of 12.97, a PEG ratio of 0.81 and a beta of 0.52. The company has a quick ratio of 3.36, a current ratio of 3.44 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $21.38 and a two-hundred day moving average price of $21.98. Westlake Chemical Partners has a 12-month low of $17.75 and a 12-month high of $23.88.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.01). Westlake Chemical Partners had a net margin of 4.66% and a return on equity of 7.25%. The firm had revenue of $297.10 million during the quarter, compared to the consensus estimate of $537.00 million. Equities analysts expect that Westlake Chemical Partners will post 1.50 earnings per share for the current year.

About Westlake Chemical Partners

Westlake Chemical Partners LP NYSE: WLKP is a master limited partnership that owns, operates and acquires ethylene production assets. Ethylene is a basic petrochemical used in the manufacture of plastics, polymers and other industrial products.

The partnership's operations are focused on ethylene production facilities in the United States, including assets in Louisiana and Kentucky. Its ethylene is sold primarily under long-term agreements to Westlake Corporation, its primary customer and sponsor, as well as to certain third-party customers.

Westlake Chemical Partners was formed in 2014 and became a publicly traded partnership that year.

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