CrossAmerica Partners LP (CAPL) To Go Ex-Dividend on November 3rd
CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Shareholders of record on Monday, November 6th will be paid a dividend of 0.6275 per share by the oil and gas company on Monday, November 13th. This represents a $2.51 annualized dividend and a yield of 9.77%. The ex-dividend date of this dividend is Friday, November 3rd. This is an increase from CrossAmerica Partners’s previous quarterly dividend of $0.62.
CrossAmerica Partners has a dividend payout ratio of -4,980.0% 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 $0.42 per share next year, which means the company may not be able to cover its $2.49 annual dividend with an expected future payout ratio of 592.9%.
CrossAmerica Partners (NYSE:CAPL) opened at 25.70 on Friday. The firm’s market capitalization is $870.20 million. CrossAmerica Partners has a one year low of $23.26 and a one year high of $29.80. The firm has a 50-day moving average price of $26.77 and a 200 day moving average price of $26.03.
CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Monday, August 7th. The oil and gas company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). CrossAmerica Partners had a return on equity of 4.11% and a net margin of 0.06%. The firm had revenue of $528.79 million during the quarter, compared to analyst estimates of $596.92 million. Equities research analysts anticipate that CrossAmerica Partners will post ($0.02) earnings per share for the current year.
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In other CrossAmerica Partners news, Director John B. Reilly III purchased 50,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $26.00 per share, for a total transaction of $1,300,000.00. Following the acquisition, the director now owns 190,869 shares of the company’s stock, valued at $4,962,594. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph V. Jr. Topper purchased 2,100 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $26.24 per share, for a total transaction of $55,104.00. Following the acquisition, the director now directly owns 163,544 shares in the company, valued at approximately $4,291,394.56. The disclosure for this purchase can be found here. Insiders have acquired a total of 122,235 shares of company stock valued at $3,257,064 in the last three months.
A number of equities research analysts have issued reports on the stock. Bank of America Corporation lowered shares of CrossAmerica Partners from a “buy” rating to a “neutral” rating and lifted their target price for the company from $28.00 to $30.00 in a research note on Wednesday, July 26th. Raymond James Financial, Inc. lifted their target price on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. BidaskClub raised shares of CrossAmerica Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of CrossAmerica Partners from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.00.
About CrossAmerica Partners
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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