Westlake Chemical Partners (NYSE:WLKP) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.01), MarketWatch Earnings reports. Westlake Chemical Partners had a return on equity of 5.45% and a net margin of 4.21%. The business had revenue of $335.73 million for the quarter, compared to the consensus estimate of $288.95 million. During the same period in the prior year, the business posted $0.46 earnings per share. Westlake Chemical Partners’s revenue was up 8.8% on a year-over-year basis.
WLKP opened at $22.68 on Tuesday. The firm has a market cap of $742.00 million, a price-to-earnings ratio of 13.19, a PEG ratio of 4.45 and a beta of 0.62. Westlake Chemical Partners has a 52 week low of $20.25 and a 52 week high of $27.75. The company has a current ratio of 3.94, a quick ratio of 3.87 and a debt-to-equity ratio of 0.50.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 20th. Shareholders of record on Tuesday, February 5th will be issued a dividend of $0.4328 per share. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.42. This represents a $1.73 annualized dividend and a yield of 7.63%. The ex-dividend date is Monday, February 4th. Westlake Chemical Partners’s dividend payout ratio (DPR) is presently 100.58%.
In other news, Director David Lumpkins acquired 4,000 shares of Westlake Chemical Partners stock in a transaction on Friday, November 30th. The shares were bought at an average cost of $22.56 per share, for a total transaction of $90,240.00. Following the acquisition, the director now directly owns 22,259 shares of the company’s stock, valued at approximately $502,163.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Angela A. Minas acquired 5,000 shares of Westlake Chemical Partners stock in a transaction on Monday, November 26th. The shares were purchased at an average price of $22.75 per share, for a total transaction of $113,750.00. Following the completion of the acquisition, the director now directly owns 13,382 shares in the company, valued at $304,440.50. The disclosure for this purchase can be found here.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Markets Daily and is owned by of Markets Daily. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2019/02/19/westlake-chemical-partners-wlkp-releases-earnings-results-misses-expectations-by-0-01-eps.html.
About Westlake Chemical Partners
Westlake Chemical Partners LP operates, acquires, and develops ethylene production facilities and related assets in the United States. The company operates ethylene production facilities, which primarily convert ethane into ethylene. It also sells ethylene co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on a spot or contract basis.
Further Reading: What is the quiet period?
Receive News & Ratings for Westlake Chemical Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical Partners and related companies with MarketBeat.com's FREE daily email newsletter.