NewEdge Wealth LLC Acquires 37,736 Shares of CrossAmerica Partners LP (NYSE:CAPL)

NewEdge Wealth LLC lifted its holdings in shares of CrossAmerica Partners LP (NYSE:CAPL) by 112.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,232 shares of the oil and gas company’s stock after buying an additional 37,736 shares during the quarter. NewEdge Wealth LLC owned about 0.19% of CrossAmerica Partners worth $1,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of CrossAmerica Partners by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock worth $7,485,000 after acquiring an additional 28,991 shares in the last quarter. Quadrant Private Wealth Management LLC raised its stake in shares of CrossAmerica Partners by 0.5% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 164,543 shares of the oil and gas company’s stock valued at $3,620,000 after purchasing an additional 775 shares during the period. Janney Montgomery Scott LLC lifted its holdings in CrossAmerica Partners by 27.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,951 shares of the oil and gas company’s stock worth $637,000 after purchasing an additional 6,259 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in CrossAmerica Partners by 18.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 4,267 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in CrossAmerica Partners by 5.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after purchasing an additional 1,000 shares during the period. 24.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CrossAmerica Partners from a “strong-buy” rating to a “buy” rating in a report on Friday.

CrossAmerica Partners Price Performance

NYSE CAPL opened at $23.20 on Friday. The company’s 50 day simple moving average is $22.42 and its two-hundred day simple moving average is $21.35. CrossAmerica Partners LP has a 1 year low of $18.43 and a 1 year high of $23.60. The stock has a market capitalization of $882.50 million, a PE ratio of 44.61 and a beta of 1.47.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.38. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The company had revenue of $944.22 million for the quarter, compared to the consensus estimate of $1.21 billion. On average, research analysts anticipate that CrossAmerica Partners LP will post 0.42 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 9.05%. The ex-dividend date was Monday, February 3rd. CrossAmerica Partners’s payout ratio is 403.85%.

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.