CrossAmerica Partners LP (CAPL) to Issue Quarterly Dividend of $0.53 on February 12th

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Wednesday, January 21st. Investors of record on Monday, February 2nd will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, February 12th. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Monday, February 2nd.

CrossAmerica Partners has a payout ratio of 411.8% meaning 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 $0.22 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 954.5%.

CrossAmerica Partners Trading Down 1.0%

Shares of CAPL opened at $22.55 on Friday. The firm has a fifty day simple moving average of $21.11 and a 200 day simple moving average of $20.87. CrossAmerica Partners has a 12 month low of $19.61 and a 12 month high of $25.73. The stock has a market capitalization of $859.61 million, a price-to-earnings ratio of 18.79 and a beta of 0.35.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08. The company had revenue of $971.85 million for the quarter, compared to analyst estimates of $780.93 million. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. As a group, research analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Company Profile

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.