Westlake Chemical Partners LP (NYSE:WLKP) Plans $0.47 Quarterly Dividend

Westlake Chemical Partners LP (NYSE:WLKP) declared a quarterly dividend on Monday, August 3rd. Investors 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) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend is Thursday, August 13th.

Westlake Chemical Partners has a dividend 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 decline. 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 Stock Performance

Westlake Chemical Partners stock opened at $21.40 on Tuesday. The firm has a fifty day simple moving average of $22.51 and a two-hundred day simple moving average of $22.23. The company has a quick ratio of 3.57, a current ratio of 3.65 and a debt-to-equity ratio of 0.50. Westlake Chemical Partners has a twelve month low of $17.75 and a twelve month high of $23.88. The company has a market capitalization of $754.35 million, a PE ratio of 13.05, a P/E/G ratio of 0.61 and a beta of 0.53.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $305.68 million for the quarter, compared to the consensus estimate of $522.00 million. Westlake Chemical Partners had a net margin of 4.69% and a return on equity of 7.15%. Research analysts expect that Westlake Chemical Partners will post 1.88 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Westlake Chemical Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Westlake Chemical Partners currently 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.