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

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Stockholders 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 dividend yield of 9.09%. 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. Research 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 Stock Performance

Shares of CrossAmerica Partners stock opened at $23.10 on Wednesday. CrossAmerica Partners has a 52 week low of $17.91 and a 52 week high of $24.19. The business’s fifty day simple moving average is $22.32 and its 200-day simple moving average is $22.49. The firm has a market cap of $877.34 million, a PE ratio of 22.00 and a beta of 1.53. The company has a quick ratio of 0.35, a current ratio of 0.67 and a debt-to-equity ratio of 250.71.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. CrossAmerica Partners had a return on equity of 197.82% and a net margin of 0.93%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.11 billion. Equities analysts forecast that CrossAmerica Partners will post 0.95 earnings per share for the current year.

Analysts Set New Price Targets

Separately, TheStreet lowered 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.