Westlake Chemical Partners (NYSE:WLKP) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Westlake Chemical Partners (NYSE:WLKP) issued its quarterly earnings data on Tuesday. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01), Zacks reports. Westlake Chemical Partners had a return on equity of 6.00% and a net margin of 4.34%.

Westlake Chemical Partners Trading Up 0.2%

Westlake Chemical Partners stock opened at $21.25 on Tuesday. The stock has a market cap of $748.91 million, a PE ratio of 15.18, a P/E/G ratio of 2.27 and a beta of 0.59. The stock has a 50-day moving average price of $20.44 and a 200 day moving average price of $20.39. Westlake Chemical Partners has a 52 week low of $17.75 and a 52 week high of $25.04. The company has a current ratio of 2.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.49.

Westlake Chemical Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Friday, February 6th were paid a dividend of $0.4714 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.9%. Westlake Chemical Partners’s dividend payout ratio (DPR) is presently 134.29%.

Analyst Upgrades and Downgrades

WLKP has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Westlake Chemical Partners in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Westlake Chemical Partners currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Westlake Chemical Partners

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Westlake Chemical Partners by 15.7% in the fourth quarter. Royal Bank of Canada now owns 7,749 shares of the basic materials company’s stock valued at $147,000 after buying an additional 1,050 shares during the last quarter. Susquehanna Portfolio Strategies LLC acquired a new stake in Westlake Chemical Partners during the fourth quarter worth approximately $224,000. Osaic Holdings Inc. grew its stake in Westlake Chemical Partners by 45.8% in the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 3,187 shares during the period. Mariner LLC raised its holdings in Westlake Chemical Partners by 4.7% in the 4th quarter. Mariner LLC now owns 12,088 shares of the basic materials company’s stock valued at $230,000 after acquiring an additional 538 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Westlake Chemical Partners by 35.7% in the 4th quarter. Wells Fargo & Company MN now owns 14,400 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 3,792 shares during the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

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.