Westlake Chemical Partners (WLKP) Earns Coverage Optimism Score of 0.19
Media stories about Westlake Chemical Partners (NYSE:WLKP) have trended somewhat positive on Thursday, according to Alpha One Sentiment Analysis. Alpha One, a division of Accern, identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real-time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Westlake Chemical Partners earned a news sentiment score of 0.19 on Alpha One’s scale. Alpha One also gave media headlines about the basic materials company an impact score of 22 out of 100, indicating that recent news coverage is very unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news stories that may have effected Alpha One’s scoring:
- Edited Transcript of WLKP earnings conference call or presentation 2-May-17 4:00pm GMT (finance.yahoo.com)
- Westlake Chemical Partners LP (WLKP) Plans Dividend Increase – $0.35 Per Share (americanbankingnews.com)
- Westlake Chemical Partners LP (WLKP) Issues Earnings Results, Misses Expectations By $0.07 EPS (americanbankingnews.com)
- Westlake Chemical Partners LP Announces First Quarter 2017 Earnings and the Completion of OpCo’s 100 Million Pound Ethylene Expansion in Calvert City, Kentucky (finance.yahoo.com)
- Westlake Chemical Partners LP Announces First Quarter Distribution (finance.yahoo.com)
Shares of Westlake Chemical Partners (NYSE:WLKP) traded down 0.98% on Thursday, reaching $25.15. The company’s stock had a trading volume of 12,920 shares. The company has a market cap of $680.53 million, a P/E ratio of 16.62 and a beta of 1.29. The company has a 50 day moving average price of $25.10 and a 200 day moving average price of $23.22. Westlake Chemical Partners has a 52-week low of $18.73 and a 52-week high of $26.25.
Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.07. The company earned $277.45 million during the quarter, compared to the consensus estimate of $339.88 million. Westlake Chemical Partners had a net margin of 4.34% and a return on equity of 4.71%. Westlake Chemical Partners’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. On average, analysts anticipate that Westlake Chemical Partners will post $1.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Monday, May 15th will be issued a $0.3549 dividend. This is a boost from Westlake Chemical Partners’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $1.42 annualized dividend and a dividend yield of 5.59%. Westlake Chemical Partners’s dividend payout ratio (DPR) is presently 91.39%.
A number of research analysts have commented on the company. Tudor Pickering upgraded Westlake Chemical Partners from a “hold” rating to a “buy” rating in a research note on Friday, January 20th. Zacks Investment Research upgraded Westlake Chemical Partners from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, February 8th. Finally, FBR & Co boosted their target price on Westlake Chemical Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, April 12th.
In related news, Director David Lumpkins acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was bought at an average price of $25.42 per share, for a total transaction of $63,550.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $127,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Westlake Chemical Partners Company Profile
Westlake Chemical Partners LP is a limited partnership formed by Westlake Chemical Corporation (Westlake). The Company operates, acquires and develops ethylene production facilities and other assets. Its business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCo sells ethylene to Westlake and others, as well as sells co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen.
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