Westlake Chemical Partners (NYSE:WLKP – Get Free Report) released its quarterly earnings results on Tuesday. The basic materials company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01), FiscalAI reports. The business had revenue of $297.10 million during the quarter, compared to analyst estimates of $537.00 million. Westlake Chemical Partners had a return on equity of 7.15% and a net margin of 4.69%.
Westlake Chemical Partners Stock Down 1.1%
Shares of Westlake Chemical Partners stock 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. Westlake Chemical Partners has a 1-year low of $17.75 and a 1-year high of $23.88. The business’s fifty day moving average price is $22.51 and its two-hundred day moving average price is $22.23. The company has a market capitalization of $754.35 million, a P/E ratio of 13.05, a PEG ratio of 0.61 and a beta of 0.53.
Westlake Chemical Partners Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be issued a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend is Thursday, August 13th. Westlake Chemical Partners’s dividend payout ratio is 115.24%.
Wall Street Analysts Forecast Growth
View Our Latest Report on Westlake Chemical Partners
Institutional Trading of Westlake Chemical Partners
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in Westlake Chemical Partners by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 228,885 shares of the basic materials company’s stock worth $5,285,000 after buying an additional 8,424 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Westlake Chemical Partners by 6.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 583,932 shares of the basic materials company’s stock valued at $12,899,000 after acquiring an additional 32,863 shares in the last quarter. Jane Street Group LLC acquired a new position in Westlake Chemical Partners in the 2nd quarter worth approximately $387,000. Advisory Services Network LLC grew its position in Westlake Chemical Partners by 19.4% during the 2nd quarter. Advisory Services Network LLC now owns 37,000 shares of the basic materials company’s stock worth $815,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Osaic Holdings Inc. grew 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. 78.28% of the stock is currently owned by institutional investors.
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.
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