CrossAmerica Partners LP (CAPL) to Distribute Quarterly Dividend of $0.53 on November 12th

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, October 21st. Investors of record on Monday, November 2nd will be paid a dividend of $0.5250 per share by the oil and gas company on Thursday, November 12th. This represents a $2.10 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend is Monday, November 2nd.

CrossAmerica Partners has a 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. Equities analysts expect CrossAmerica Partners to earn $1.15 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 182.6%.

CrossAmerica Partners Price Performance

CrossAmerica Partners stock opened at $22.18 on Friday. The firm’s 50 day simple moving average is $22.41 and its 200-day simple moving average is $22.11. CrossAmerica Partners has a fifty-two week low of $19.78 and a fifty-two week high of $24.63. The company has a market cap of $846.80 million, a P/E ratio of 16.19 and a beta of 0.34.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $731.45 million. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. On average, analysts expect that CrossAmerica Partners will post 1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

CAPL has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CrossAmerica Partners in a research report on Tuesday, September 8th. Zacks Research lowered shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.