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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Tuesday, April 23rd, Wall Street Journal reports. Investors of record on Friday, May 3rd will be paid 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 dividend yield of 9.11%. The ex-dividend date is Thursday, May 2nd.

CrossAmerica Partners has a 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 Trading Up 1.5 %

Shares of CAPL traded up $0.35 during trading hours on Tuesday, hitting $23.05. The company had a trading volume of 51,361 shares, compared to its average volume of 36,129. The company has a quick ratio of 0.35, a current ratio of 0.67 and a debt-to-equity ratio of 250.71. CrossAmerica Partners has a 52-week low of $17.91 and a 52-week high of $24.19. The firm has a market cap of $875.44 million, a P/E ratio of 22.02 and a beta of 1.53. The stock’s 50 day moving average price is $22.29 and its 200 day moving average price is $22.47.

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

Wall Street Analyst Weigh In

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

CrossAmerica Partners Company Profile

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.