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

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Shareholders of record on Monday, November 4th will be given a dividend of 0.525 per share by the oil and gas company on Wednesday, November 13th. This represents a $2.10 annualized dividend and a yield of 9.72%. The ex-dividend date is Monday, November 4th.

CrossAmerica Partners has a payout ratio of 362.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CrossAmerica Partners to earn $0.58 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 362.1%.

CrossAmerica Partners Trading Up 2.9 %

Shares of NYSE CAPL traded up $0.60 during trading hours on Thursday, reaching $21.61. The stock had a trading volume of 50,906 shares, compared to its average volume of 36,384. The firm has a market cap of $821.76 million, a price-to-earnings ratio of 35.38 and a beta of 1.51. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $24.19. The firm has a 50-day moving average of $20.69 and a 200-day moving average of $20.62.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.06 by $0.10. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.27 billion. On average, equities analysts predict that CrossAmerica Partners will post 0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CrossAmerica Partners from a “strong-buy” rating to a “buy” rating in a research report on Sunday.

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.