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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Monday, February 3rd will be given a dividend of 0.525 per share by the oil and gas company on Thursday, February 13th. This represents a $2.10 annualized dividend and a dividend yield of 9.46%. The ex-dividend date is Monday, February 3rd.

CrossAmerica Partners has a dividend payout ratio of 567.6% 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 $0.22 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

Shares of NYSE CAPL opened at $22.19 on Friday. CrossAmerica Partners has a 1 year low of $18.43 and a 1 year high of $24.19. The firm has a market cap of $844.41 million, a PE ratio of 42.68 and a beta of 1.46. The company has a 50 day simple moving average of $21.53 and a 200 day simple moving average of $20.80.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, research analysts anticipate that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

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.