CrossAmerica Partners LP Plans Quarterly Dividend of $0.53 (NYSE:CAPL)

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Monday, May 4th will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, May 14th. This represents a c) annualized dividend and a yield of 10.0%. The ex-dividend date is Monday, May 4th.

CrossAmerica Partners has a dividend payout ratio of 411.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CrossAmerica Partners to earn $0.71 per share next year, which means the company may not be able to cover its $2.10 annual dividend with an expected future payout ratio of 295.8%.

CrossAmerica Partners Price Performance

Shares of NYSE CAPL opened at $21.01 on Thursday. The stock’s 50-day moving average is $21.44 and its two-hundred day moving average is $21.13. CrossAmerica Partners has a 1-year low of $19.61 and a 1-year high of $24.53. The company has a market cap of $801.11 million, a price-to-earnings ratio of 20.40 and a beta of 0.35.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.11. CrossAmerica Partners had a negative return on equity of 9.43% and a net margin of 1.14%.The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $748.01 million. Equities research analysts anticipate that CrossAmerica Partners will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAPL. Wall Street Zen raised CrossAmerica Partners from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings raised CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Finally, Zacks Research raised CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy”.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.