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

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Monday, February 3rd will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, February 13th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.57%.

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. Equities 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

CrossAmerica Partners stock traded down $0.09 during midday trading on Wednesday, reaching $21.94. The company had a trading volume of 38,741 shares, compared to its average volume of 31,603. The company has a market capitalization of $834.63 million, a P/E ratio of 42.18 and a beta of 1.46. The firm’s fifty day simple moving average is $21.46 and its 200-day simple moving average is $20.78. CrossAmerica Partners has a 12-month low of $18.43 and a 12-month high of $24.19.

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

Analyst Ratings Changes

Separately, StockNews.com raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

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.