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. The Retail segment is involved in the sale of convenience merchandise items; and retail sale of motor fuels at company operated retail sites and retail sites operated by commission agents. As of December 31, 2021, the company distributed motor fuel on a wholesale basis to approximately 1,750 sites located in 34 states; and owned or leased approximately 1,150 sites. CrossAmerica GP LLC operates as the general partner of the company. The company was formerly known as Lehigh Gas Partners LP and changed its name to CrossAmerica Partners LP in October 2014. The company was founded in 1992 and is based in Allentown, Pennsylvania.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of CrossAmerica Partners from a "hold" rating to a "buy" rating in a report on Tuesday.
CrossAmerica Partners Price Performance
Shares of CAPL opened at $21.46 on Tuesday. The company has a market capitalization of $813.98 million, a P/E ratio of 20.84 and a beta of 1.81. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 17.10. The firm has a 50 day moving average of $20.70 and a 200 day moving average of $20.91. CrossAmerica Partners has a twelve month low of $17.27 and a twelve month high of $23.29.
CrossAmerica Partners Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 10th. Investors of record on Wednesday, August 3rd were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 9.79%. The ex-dividend date of this dividend was Tuesday, August 2nd. CrossAmerica Partners's dividend payout ratio (DPR) is currently 203.89%.