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

Westlake Chemical Partners LP (NYSE:WLKP) announced a quarterly dividend on Monday, November 2nd. Investors of record on Friday, November 13th will be paid a dividend of $0.4714 per share by the basic materials company on Tuesday, December 1st. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend is Friday, November 13th.

Westlake Chemical Partners has a payout ratio of 92.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Westlake Chemical Partners to earn $1.70 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 110.6%.

Westlake Chemical Partners Price Performance

Westlake Chemical Partners stock opened at $21.47 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 3.43 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $756.73 million, a P/E ratio of 12.86, a PEG ratio of 0.80 and a beta of 0.51. The business has a 50-day moving average of $21.36 and a 200-day moving average of $22.00. Westlake Chemical Partners has a 1 year low of $17.75 and a 1 year high of $23.88.

Westlake Chemical Partners (NYSE:WLKP) last released its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.16. The business had revenue of $314.46 million for the quarter, compared to analyst estimates of $336.33 million. Westlake Chemical Partners had a net margin of 4.77% and a return on equity of 7.55%. On average, equities analysts anticipate that Westlake Chemical Partners will post 1.50 EPS for the current year.

Institutional Investors Weigh In On Westlake Chemical Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its position in shares of Westlake Chemical Partners by 9.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,874 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 572 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Westlake Chemical Partners by 36.6% in the 1st quarter. Royal Bank of Canada now owns 10,582 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 2,833 shares during the period. Arrow Investment Advisors LLC raised its holdings in shares of Westlake Chemical Partners by 17.1% in the 3rd quarter. Arrow Investment Advisors LLC now owns 10,639 shares of the basic materials company’s stock valued at $226,000 after purchasing an additional 1,555 shares during the period. MGO One Seven LLC lifted its stake in Westlake Chemical Partners by 10.0% in the 3rd quarter. MGO One Seven LLC now owns 12,760 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its stake in Westlake Chemical Partners by 5.0% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 21,408 shares of the basic materials company’s stock valued at $454,000 after purchasing an additional 1,022 shares during the last quarter. 78.28% of the stock is owned by institutional investors.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP is a master limited partnership formed in 2014 to own and operate ethylene production facilities and related assets. Its operations are conducted through Westlake Chemical OpCo LP, in which the partnership holds an interest. The partnership’s assets include ethylene production facilities in Lake Charles, Louisiana, and Calvert City, Kentucky, as well as related pipeline and storage infrastructure. Ethylene is a key chemical building block used to make products such as polyethylene and other plastics.