Westlake Chemical Partners (NYSE:WLKP - Get Free Report) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01), Zacks reports. The firm had revenue of $284.67 million for the quarter, compared to the consensus estimate of $280.76 million. Westlake Chemical Partners had a net margin of 4.56% and a return on equity of 6.25%. During the same period last year, the business earned $0.42 EPS.
Westlake Chemical Partners Stock Performance
NYSE:WLKP traded up $0.50 during trading hours on Thursday, reaching $22.46. The company had a trading volume of 30,750 shares, compared to its average volume of 27,232. The firm's 50 day moving average price is $22.20 and its 200-day moving average price is $22.14. The firm has a market cap of $791.27 million, a price-to-earnings ratio of 14.58 and a beta of 1.08. Westlake Chemical Partners has a 52 week low of $20.86 and a 52 week high of $23.68. The company has a current ratio of 4.02, a quick ratio of 3.94 and a debt-to-equity ratio of 0.47.
Westlake Chemical Partners Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 13th will be given a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date is Friday, May 10th. Westlake Chemical Partners's dividend payout ratio (DPR) is presently 122.73%.
Insider Transactions at Westlake Chemical Partners
In other Westlake Chemical Partners news, SVP Andrew Kenner purchased 10,000 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average price of $22.12 per share, for a total transaction of $221,200.00. Following the purchase, the senior vice president now directly owns 136,609 shares of the company's stock, valued at approximately $3,021,791.08. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired 24,230 shares of company stock worth $537,587 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Westlake Chemical Partners from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 26th.
View Our Latest Analysis on Westlake Chemical Partners
Westlake Chemical Partners Company Profile
(
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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.
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