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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.525 per share by the oil and gas company on Wednesday, November 13th. This represents a $2.10 annualized dividend and a yield of 9.88%. The ex-dividend date is Monday, November 4th.

CrossAmerica Partners has a payout ratio of 362.1% 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 $0.58 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 362.1%.

CrossAmerica Partners Trading Down 0.4 %

NYSE:CAPL opened at $21.26 on Friday. The stock has a market capitalization of $808.52 million, a P/E ratio of 37.96 and a beta of 1.50. CrossAmerica Partners has a 1 year low of $18.43 and a 1 year high of $24.19. The firm has a 50 day moving average of $20.89 and a 200-day moving average of $20.57.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.27 billion. CrossAmerica Partners had a negative return on equity of 314.20% and a net margin of 0.51%. As a group, analysts forecast that CrossAmerica Partners will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th.

About CrossAmerica Partners

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.