CrossAmerica Partners LP (CAPL) to Issue Quarterly Dividend of $0.53 on May 10th

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Investors of record on Friday, May 3rd will be given a dividend of 0.525 per share by the oil and gas company on Friday, May 10th. This represents a $2.10 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date of this dividend is Thursday, May 2nd.

CrossAmerica Partners has a dividend payout ratio of 214.3% meaning 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. The business’s fifty day simple moving average is $22.32 and its 200 day simple moving average is $22.49. The company has a current ratio of 0.67, a quick ratio of 0.35 and a debt-to-equity ratio of 250.71. The firm has a market capitalization of $877.34 million, a P/E ratio of 22.00 and a beta of 1.53. CrossAmerica Partners has a 12 month low of $17.91 and a 12 month high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.11 billion. CrossAmerica Partners had a return on equity of 197.82% and a net margin of 0.93%. As a group, analysts anticipate that CrossAmerica Partners will post 0.95 EPS for the current year.

Analysts Set New Price Targets

Separately, TheStreet downgraded CrossAmerica Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th.

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.