CrossAmerica Partners (NYSE:CAPL) Reaches New 52-Week High – Here’s What Happened

CrossAmerica Partners LP (NYSE:CAPL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.97 and last traded at $24.56, with a volume of 60260 shares trading hands. The stock had previously closed at $24.33.

Wall Street Analyst Weigh In

Separately, StockNews.com raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 24th.

CrossAmerica Partners Price Performance

The business’s 50-day simple moving average is $23.20 and its two-hundred day simple moving average is $21.96. The stock has a market cap of $953.40 million, a price-to-earnings ratio of 48.17 and a beta of 1.48.

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 for the quarter, topping analysts’ consensus estimates of $0.04 by $0.38. The business had revenue of $944.22 million for the quarter, compared to analyst estimates of $1.21 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. Equities research analysts forecast that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 8.38%. The ex-dividend date of this dividend was Monday, February 3rd. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors have recently added to or reduced their stakes in CAPL. Raymond James Financial Inc. bought a new position in shares of CrossAmerica Partners during the fourth quarter valued at $6,245,000. NewEdge Wealth LLC raised its position in CrossAmerica Partners by 112.7% during the 4th quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company’s stock worth $1,567,000 after purchasing an additional 37,736 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in CrossAmerica Partners by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock worth $7,485,000 after buying an additional 28,991 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CrossAmerica Partners by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company’s stock valued at $12,494,000 after buying an additional 28,758 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of CrossAmerica Partners during the third quarter worth about $279,000. 24.06% of the stock is owned by institutional investors.

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.