CrossAmerica Partners LP (CAPL) to Distribute Quarterly Dividend of $0.53 on August 13th

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Tuesday, July 21st. Stockholders of record on Monday, August 3rd will be given a dividend of 0.525 per share by the oil and gas company on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Monday, August 3rd.

CrossAmerica Partners has a payout ratio of 411.8% 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 Stock Up 2.1%

Shares of CAPL stock opened at $22.24 on Friday. The firm has a market cap of $848.01 million, a P/E ratio of 14.93 and a beta of 0.29. CrossAmerica Partners has a 12-month low of $19.61 and a 12-month high of $23.34. The business has a 50-day moving average price of $22.17 and a two-hundred day moving average price of $21.87.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.42. The company had revenue of $841.83 million for the quarter, compared to analysts’ expectations of $697.31 million. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%. As a group, research analysts expect that CrossAmerica Partners will post 0.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAPL. Zacks Research downgraded CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings upgraded CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. 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, the stock presently has an average rating of “Hold”.

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.