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

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Monday, February 3rd will be given a dividend of 0.525 per share by the oil and gas company on Thursday, February 13th. This represents a $2.10 annualized dividend and a 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 Trading Down 0.4 %

NYSE:CAPL traded down $0.09 during trading hours on Wednesday, hitting $21.94. The company’s stock had a trading volume of 38,741 shares, compared to its average volume of 31,603. CrossAmerica Partners has a 52-week low of $18.43 and a 52-week high of $24.19. The stock has a market capitalization of $834.63 million, a P/E ratio of 42.18 and a beta of 1.46. The stock has a fifty day moving average of $21.46 and a 200-day moving average of $20.78.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.28 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. During the same quarter last year, the company posted $0.31 earnings per share. On average, sell-side analysts forecast that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of 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.