CrossAmerica Partners (NYSE:CAPL) Hits New 52-Week High – Still a Buy?

CrossAmerica Partners LP (NYSE:CAPL) reached a new 52-week high on Tuesday . The stock traded as high as $24.63 and last traded at $24.01, with a volume of 125873 shares trading hands. The stock had previously closed at $23.60.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CAPL shares. Wall Street Zen upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Zacks Research upgraded shares of CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy”.

CrossAmerica Partners Stock Performance

The company has a market cap of $905.39 million, a price-to-earnings ratio of 17.31 and a beta of 0.29. The company’s fifty day moving average is $22.29 and its two-hundred day moving average is $21.92.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. The firm had revenue of $1.18 billion for 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, sell-side analysts anticipate that CrossAmerica Partners LP will post 1.2 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 3rd were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 8.9%. The ex-dividend date was Monday, August 3rd. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 153.28%.

Institutional Investors Weigh In On CrossAmerica Partners

Several hedge funds have recently bought and sold shares of CAPL. First Trust Advisors LP grew its position in shares of CrossAmerica Partners by 22.9% during the 3rd quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock valued at $4,186,000 after acquiring an additional 37,093 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CrossAmerica Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock worth $12,774,000 after purchasing an additional 27,767 shares during the period. Acadian Asset Management LLC acquired a new position in CrossAmerica Partners in the 1st quarter worth about $535,000. Raymond James Financial Inc. boosted its position in CrossAmerica Partners by 4.8% during the third quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock worth $6,272,000 after purchasing an additional 13,767 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in CrossAmerica Partners during the first quarter worth approximately $278,000. Hedge funds and other institutional investors own 24.06% of the company’s stock.

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.