Westlake Chemical Partners (WLKP) Set to Announce Quarterly Earnings on Tuesday

Westlake Chemical Partners (NYSE:WLKP) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $0.36 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Westlake Chemical Partners (NYSE:WLKP) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $284.17 million during the quarter, compared to analysts’ expectations of $270.28 million. Westlake Chemical Partners had a return on equity of 6.68% and a net margin of 4.78%. During the same period in the prior year, the firm earned $0.34 EPS. On average, analysts expect Westlake Chemical Partners to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Westlake Chemical Partners Stock Performance

Shares of WLKP stock opened at $22.35 on Friday. The company has a market capitalization of $787.39 million, a price-to-earnings ratio of 13.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.59 and a current ratio of 4.68. Westlake Chemical Partners has a one year low of $21.16 and a one year high of $23.68. The company’s 50-day moving average is $22.43 and its 200 day moving average is $22.52.

Westlake Chemical Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be paid a $0.471 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.88 annualized dividend and a dividend yield of 8.43%. Westlake Chemical Partners’s dividend payout ratio is presently 117.39%.

Insider Activity at Westlake Chemical Partners

In other Westlake Chemical Partners news, SVP Andrew Kenner bought 12,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $22.99 per share, with a total value of $275,880.00. Following the transaction, the senior vice president now owns 182,308 shares in the company, valued at $4,191,260.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired 16,119 shares of company stock valued at $369,340 over the last ninety days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays upgraded shares of Westlake Chemical Partners to a “strong-buy” rating in a report on Monday, August 12th.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company’s ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.