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

Westlake Chemical Partners LP (NYSE:WLKP) declared a quarterly dividend on Monday, May 4th. Stockholders of record on Thursday, May 14th will be paid a dividend of 0.4714 per share by the basic materials company on Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Thursday, May 14th.

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 tumble. Equities 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

Shares of Westlake Chemical Partners stock opened at $22.95 on Tuesday. The firm’s fifty day simple moving average is $22.26 and its 200-day simple moving average is $20.64. The stock has a market capitalization of $808.72 million, a price-to-earnings ratio of 16.63, a PEG ratio of 0.65 and a beta of 0.52. Westlake Chemical Partners has a 12 month low of $17.75 and a 12 month high of $23.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.80 and a quick ratio of 2.74.

Westlake Chemical Partners (NYSE:WLKP) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Westlake Chemical Partners had a net margin of 4.17% and a return on equity of 5.99%. As a group, equities analysts forecast that Westlake Chemical Partners will post 1.88 earnings per share for the current year.

Westlake Chemical Partners Company Profile

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.