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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Shareholders of record on Friday, May 3rd will be paid 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 9.09%. The ex-dividend date is Thursday, May 2nd.

CrossAmerica Partners has a payout ratio of 214.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 1.8 %

Shares of CAPL stock opened at $23.10 on Wednesday. CrossAmerica Partners has a 1-year low of $17.91 and a 1-year high of $24.19. The company has a market cap of $877.34 million, a price-to-earnings ratio of 22.00 and a beta of 1.53. The company has a debt-to-equity ratio of 250.71, a current ratio of 0.67 and a quick ratio of 0.35. The stock has a 50 day simple moving average of $22.32 and a 200-day simple moving average of $22.49.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Monday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, equities research analysts expect that CrossAmerica Partners will post 0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, TheStreet cut CrossAmerica Partners from a “b-” rating to a “c+” rating in a research report 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.