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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Tuesday, July 21st. Stockholders of record on Monday, August 3rd will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date of this dividend is Monday, August 3rd.

CrossAmerica Partners has a dividend payout ratio of 411.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CrossAmerica Partners to earn $0.85 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 247.1%.

CrossAmerica Partners Stock Down 0.7%

CAPL opened at $21.84 on Wednesday. CrossAmerica Partners has a 52-week low of $19.61 and a 52-week high of $23.34. The company has a market cap of $832.76 million, a P/E ratio of 14.66 and a beta of 0.29. The company has a 50 day moving average of $22.31 and a two-hundred day moving average of $21.82.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.42. The company had revenue of $841.83 million for the quarter, compared to analysts’ expectations of $697.31 million. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%. Research analysts anticipate that CrossAmerica Partners will post 0.93 earnings per share for the current year.

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.