Westlake Chemical Partners (NYSE:WLKP) is set to post its quarterly earnings results before the market opens on Tuesday, February 19th. Analysts expect Westlake Chemical Partners to post earnings of $0.38 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.
Shares of NYSE:WLKP opened at $22.49 on Tuesday. The company has a market cap of $722.98 million, a PE ratio of 13.04, a PEG ratio of 4.36 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.87 and a current ratio of 3.94. Westlake Chemical Partners has a 12 month low of $20.25 and a 12 month high of $27.75.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 20th. Investors of record on Tuesday, February 5th will be paid a $0.4328 dividend. The ex-dividend date of this dividend is Monday, February 4th. This represents a $1.73 dividend on an annualized basis and a yield of 7.70%. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.42. Westlake Chemical Partners’s dividend payout ratio is presently 100.58%.
In related news, Director David Lumpkins bought 4,000 shares of Westlake Chemical Partners stock in a transaction that occurred on Friday, November 30th. The shares were purchased at an average price of $22.56 per share, with a total value of $90,240.00. Following the purchase, the director now owns 22,259 shares in the company, valued at $502,163.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Angela A. Minas bought 5,000 shares of Westlake Chemical Partners stock in a transaction that occurred on Monday, November 26th. The stock was bought at an average cost of $22.75 per share, for a total transaction of $113,750.00. Following the purchase, the director now owns 13,382 shares in the company, valued at approximately $304,440.50. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 51,935 shares of company stock worth $1,203,507.
A number of research firms recently issued reports on WLKP. Zacks Investment Research lowered Westlake Chemical Partners from a “hold” rating to a “sell” rating in a research note on Friday, November 9th. Citigroup set a $27.00 target price on Westlake Chemical Partners and gave the company a “buy” rating in a research note on Thursday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $26.60.
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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.
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