Westlake Chemical Partners (NYSE:WLKP) Releases Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) announced its earnings results on Friday. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.24), Zacks reports. The business had revenue of $237.63 million for the quarter, compared to analysts' expectations of $296.00 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%.

Westlake Chemical Partners Trading Up 0.4 %

WLKP traded up $0.09 during trading hours on Thursday, reaching $23.15. 14,103 shares of the company's stock traded hands, compared to its average volume of 42,115. The firm has a 50-day moving average price of $23.21 and a 200 day moving average price of $23.38. The firm has a market capitalization of $815.82 million, a PE ratio of 13.23 and a beta of 0.84. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. Westlake Chemical Partners has a 52-week low of $21.19 and a 52-week high of $25.04.

Westlake Chemical Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Tuesday, May 13th will be issued a $0.4714 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.89 annualized dividend and a dividend yield of 8.14%. Westlake Chemical Partners's payout ratio is 126.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Westlake Chemical Partners from a "strong-buy" rating to a "buy" rating in a report on Monday.

Westlake Chemical Partners Company Profile

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.