CrossAmerica Partners (NYSE:CAPL) Sets New 12-Month High – Here’s Why

CrossAmerica Partners LP (NYSE:CAPL)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $23.34 and last traded at $23.0250, with a volume of 69720 shares changing hands. The stock had previously closed at $22.71.

Wall Street Analyst Weigh In

Several brokerages have commented on CAPL. Weiss Ratings raised CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Zacks Research cut CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

CrossAmerica Partners Price Performance

The firm has a market cap of $871.80 million, a P/E ratio of 15.34 and a beta of 0.29. The company’s 50 day moving average is $21.54 and its two-hundred day moving average is $21.34.

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

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 4th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend was Monday, May 4th. CrossAmerica Partners’s dividend payout ratio (DPR) is 140.94%.

Institutional Investors Weigh In On CrossAmerica Partners

Several institutional investors and hedge funds have recently bought and sold shares of CAPL. CWM LLC lifted its holdings in shares of CrossAmerica Partners by 35.5% during the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock worth $70,000 after acquiring an additional 887 shares during the period. North Star Investment Management Corp. acquired a new position in CrossAmerica Partners in the first quarter worth about $105,000. Wells Fargo & Company MN raised its position in CrossAmerica Partners by 43.3% in the fourth quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 1,869 shares in the last quarter. Royal Bank of Canada lifted its stake in CrossAmerica Partners by 48.7% during the fourth quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 2,422 shares during the period. Finally, Motiv8 Investments LLC acquired a new stake in CrossAmerica Partners during the fourth quarter valued at approximately $193,000. Institutional investors own 24.06% of the company’s stock.

About CrossAmerica Partners

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.