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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, January 21st. Stockholders of record on Monday, February 2nd will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend is Monday, February 2nd.

CrossAmerica Partners has a dividend payout ratio of 411.8% indicating that 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 Stock Performance

CAPL opened at $22.24 on Thursday. The stock has a market cap of $847.83 million, a price-to-earnings ratio of 18.53 and a beta of 0.35. The firm’s fifty day moving average is $20.87 and its 200 day moving average is $20.78. CrossAmerica Partners has a fifty-two week low of $19.61 and a fifty-two week high of $25.73.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. The business had revenue of $971.85 million for the quarter, compared to analysts’ expectations of $780.93 million. CrossAmerica Partners had a negative return on equity of 23.68% and a net margin of 1.30%. On average, equities research analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Institutional Trading of CrossAmerica Partners

Several hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in CrossAmerica Partners by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 39,040 shares of the oil and gas company’s stock worth $959,000 after purchasing an additional 1,375 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of CrossAmerica Partners in the 1st quarter worth $535,000. Citadel Advisors LLC increased its holdings in shares of CrossAmerica Partners by 19.1% in the 3rd quarter. Citadel Advisors LLC now owns 15,467 shares of the oil and gas company’s stock worth $325,000 after buying an additional 2,477 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of CrossAmerica Partners by 36.3% in the 2nd quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company’s stock worth $299,000 after buying an additional 3,812 shares during the last quarter. Finally, American Financial Group Inc. raised its position in shares of CrossAmerica Partners by 3.4% during the 3rd quarter. American Financial Group Inc. now owns 15,000 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 500 shares in the last quarter. 24.06% of the stock is owned by hedge funds and other institutional investors.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.