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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Monday, February 3rd will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, February 13th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.57%.

CrossAmerica Partners has a payout ratio of 567.6% 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 $0.22 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 Stock Performance

Shares of CAPL stock opened at $21.94 on Thursday. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $24.19. The firm has a market capitalization of $834.63 million, a price-to-earnings ratio of 42.18 and a beta of 1.46. The stock’s 50-day simple moving average is $21.49 and its 200-day simple moving average is $20.79.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, equities analysts forecast that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

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.