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

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Investors of record on Monday, November 4th will be paid 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. Research 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 Stock Performance

CrossAmerica Partners stock traded up $0.60 during trading on Thursday, reaching $21.61. 50,906 shares of the company’s stock were exchanged, compared to its average volume of 36,384. The company’s 50-day moving average is $20.69 and its two-hundred day moving average is $20.62. 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 52-week low of $18.43 and a 52-week high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. CrossAmerica Partners had a negative return on equity of 314.20% and a net margin of 0.51%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.27 billion. Analysts anticipate that CrossAmerica Partners will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered CrossAmerica Partners from a “strong-buy” rating to a “buy” rating in a 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.