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

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Wednesday, January 21st. Investors of record on Monday, February 2nd will be given a dividend of 0.525 per share by the oil and gas company on Thursday, February 12th. This represents a c) dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend is Monday, February 2nd.

CrossAmerica Partners has a 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. Research analysts expect CrossAmerica Partners to earn $0.22 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 954.5%.

CrossAmerica Partners Price Performance

Shares of CAPL opened at $22.24 on Thursday. The company has a market capitalization of $847.83 million, a PE ratio of 18.53 and a beta of 0.35. CrossAmerica Partners has a one year low of $19.61 and a one year high of $25.73. The company’s fifty day moving average price is $20.87 and its 200 day moving average price is $20.78.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. The company had revenue of $971.85 million during the quarter, compared to analysts’ expectations of $780.93 million. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. Analysts anticipate that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

CAPL has been the subject of several recent analyst reports. Wall Street Zen downgraded CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of CrossAmerica Partners in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

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.