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

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Monday, April 22nd, 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 yield of 9.02%. The ex-dividend date of this dividend 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 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 Price Performance

Shares of NYSE:CAPL opened at $23.28 on Tuesday. The company has a market capitalization of $884.17 million, a PE ratio of 22.17 and a beta of 1.53. The company has a debt-to-equity ratio of 250.71, a quick ratio of 0.35 and a current ratio of 0.67. The stock has a fifty day moving average of $22.42 and a 200-day moving average of $22.55. CrossAmerica Partners has a one year low of $17.91 and a one year high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Monday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. CrossAmerica Partners had a return on equity of 197.82% and a net margin of 0.93%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.11 billion. As a group, equities analysts anticipate that CrossAmerica Partners will post 0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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.