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

Westlake Chemical Partners LP (NYSE:WLKP) announced a quarterly dividend on Monday, August 3rd. Shareholders 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 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 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 Down 1.1%

WLKP opened at $21.40 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.65 and a quick ratio of 3.57. The stock has a market capitalization of $754.35 million, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.61 and a beta of 0.53. The business has a 50-day moving average of $22.51 and a two-hundred day moving average of $22.23. Westlake Chemical Partners has a 12 month low of $17.75 and a 12 month high of $23.88.

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

Institutional Investors Weigh In On Westlake Chemical Partners

A number of institutional investors have recently added to or reduced their stakes in WLKP. Geneos Wealth Management Inc. increased its stake in Westlake Chemical Partners by 142.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 6,302 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 3,708 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Westlake Chemical Partners by 15.7% during the 4th quarter. Royal Bank of Canada now owns 7,749 shares of the basic materials company’s stock worth $147,000 after purchasing an additional 1,050 shares during the period. Centennial Bank AR acquired a new stake in Westlake Chemical Partners during the 4th quarter worth approximately $173,000. Osaic Holdings Inc. increased its position in Westlake Chemical Partners by 45.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 3,187 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC acquired a new stake in Westlake Chemical Partners during the 4th quarter worth approximately $224,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

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.