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

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) declared a quarterly dividend on Wednesday, July 23rd, RTT News reports. Investors of record on Monday, August 4th will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, August 14th. This represents a $2.10 dividend on an annualized basis and a yield of 9.47%. The ex-dividend date of this dividend is Monday, August 4th.

CrossAmerica Partners has a payout ratio of 411.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Price Performance

NYSE:CAPL traded up $0.07 during mid-day trading on Friday, reaching $22.19. 24,585 shares of the company's stock traded hands, compared to its average volume of 24,004. CrossAmerica Partners has a 12-month low of $18.43 and a 12-month high of $25.73. The firm has a market capitalization of $845.25 million, a price-to-earnings ratio of 27.73 and a beta of 0.57. The company has a 50 day moving average price of $21.52 and a 200-day moving average price of $22.50.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.14). CrossAmerica Partners had a net margin of 0.80% and a negative return on equity of 45.12%. The business had revenue of $862.48 million for the quarter, compared to analysts' expectations of $735.09 million. As a group, analysts forecast that CrossAmerica Partners will post 0.42 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded CrossAmerica Partners from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th.

Institutional Investors Weigh In On CrossAmerica Partners

An institutional investor recently bought a new position in CrossAmerica Partners stock. Acadian Asset Management LLC acquired a new stake in shares of CrossAmerica Partners LP (NYSE:CAPL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,908 shares of the oil and gas company's stock, valued at approximately $535,000. Acadian Asset Management LLC owned 0.06% of CrossAmerica Partners at the end of the most recent quarter. Institutional investors own 24.06% of the company's stock.

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.