CrossAmerica Partners LP (NYSE:CAPL) Shareholders to Get $0.53 Quarterly Dividend

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, October 21st. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.5250 per share by the oil and gas company on Thursday, November 12th. This represents a $2.10 annualized dividend and a yield of 9.6%. The ex-dividend date is Monday, November 2nd.

CrossAmerica Partners has a 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 $1.15 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 182.6%.

CrossAmerica Partners Stock Down 0.1%

CrossAmerica Partners stock traded down $0.02 on Thursday, hitting $21.88. The company’s stock had a trading volume of 6,505 shares, compared to its average volume of 42,373. CrossAmerica Partners has a one year low of $19.78 and a one year high of $24.63. The firm has a market cap of $835.23 million, a P/E ratio of 15.97 and a beta of 0.34. The company has a fifty day moving average price of $22.43 and a 200-day moving average price of $22.10.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $731.45 million. Analysts anticipate that CrossAmerica Partners will post 1.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CrossAmerica Partners in a research report on Tuesday, September 8th. Zacks Research cut CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.