Westlake Chemical Partners LP (WLKP) To Go Ex-Dividend on August 13th

Westlake Chemical Partners LP (NYSE:WLKP) announced a quarterly dividend on Monday, August 3rd. Stockholders of record on Thursday, August 13th will be paid a dividend of 0.4714 per share by the basic materials company on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Thursday, August 13th.

Westlake Chemical Partners has a 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 fall. Equities research analysts expect Westlake Chemical Partners to earn $1.71 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 109.9%.

Westlake Chemical Partners Trading Down 0.1%

Shares of NYSE WLKP opened at $21.63 on Tuesday. Westlake Chemical Partners has a fifty-two week low of $17.75 and a fifty-two week high of $23.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.57 and a current ratio of 3.65. The company has a market cap of $762.46 million, a price-to-earnings ratio of 13.27, a PEG ratio of 0.62 and a beta of 0.53. The business’s 50 day moving average price is $22.37 and its 200-day moving average price is $22.25.

Westlake Chemical Partners (NYSE:WLKP) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $297.10 million for the quarter, compared to analysts’ expectations of $537.00 million. Westlake Chemical Partners had a net margin of 4.66% and a return on equity of 7.18%. On average, sell-side analysts expect that Westlake Chemical Partners will post 1.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Westlake Chemical Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About Westlake Chemical Partners

Westlake Chemical Partners LP (NYSE: WLKP) is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.

WLKP’s operations are organized into two primary segments: olefins and vinyls.