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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Tuesday, April 23rd, Wall Street Journal reports. Shareholders of record on Friday, May 3rd will be given a dividend of 0.525 per share by the oil and gas company on Friday, May 10th. This represents a $2.10 annualized dividend and a dividend yield of 9.11%. The ex-dividend date is Thursday, May 2nd.

CrossAmerica Partners has a payout ratio of 214.3% 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 research analysts expect CrossAmerica Partners to earn $0.98 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 214.3%.

CrossAmerica Partners Stock Up 1.5 %

CrossAmerica Partners stock traded up $0.35 during midday trading on Tuesday, hitting $23.05. The stock had a trading volume of 51,361 shares, compared to its average volume of 36,129. The company has a current ratio of 0.67, a quick ratio of 0.35 and a debt-to-equity ratio of 250.71. The business has a fifty day moving average price of $22.29 and a 200 day moving average price of $22.47. The stock has a market cap of $875.44 million, a P/E ratio of 22.02 and a beta of 1.53. CrossAmerica Partners has a 12 month low of $17.91 and a 12 month high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. CrossAmerica Partners had a net margin of 0.93% and a return on equity of 197.82%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.11 billion. Research analysts predict that CrossAmerica Partners will post 0.95 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, TheStreet lowered shares of CrossAmerica Partners from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.