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

Westlake Chemical Partners LP (NYSE:WLKP) declared a quarterly dividend on Monday, August 3rd. Investors of record on Thursday, August 13th will be given a dividend of 0.4714 per share by the basic materials company on Friday, August 28th. This represents a c) annualized dividend and a yield of 8.8%. 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. 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 Price Performance

Shares of WLKP stock opened at $21.33 on Wednesday. The company has a market capitalization of $751.85 million, a P/E ratio of 13.01, a P/E/G ratio of 0.60 and a beta of 0.53. The company’s 50-day simple moving average is $22.48 and its two-hundred day simple moving average is $22.23. Westlake Chemical Partners has a one year low of $17.75 and a one year high of $23.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.65 and a quick ratio of 3.57.

Westlake Chemical Partners (NYSE:WLKP) last posted its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). The company had revenue of $297.10 million for the quarter, compared to the consensus estimate of $537.00 million. Westlake Chemical Partners had a net margin of 4.69% and a return on equity of 7.15%. As a group, equities analysts anticipate that Westlake Chemical Partners will post 1.88 EPS for the current year.

Analyst Ratings Changes

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