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

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, October 23rd, 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 dividend on an annualized basis and a dividend yield of 9.88%. The ex-dividend date of this dividend 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 Price Performance

CAPL opened at $21.26 on Friday. The business has a 50 day moving average price of $20.89 and a two-hundred day moving average price of $20.57. CrossAmerica Partners has a 1-year low of $18.43 and a 1-year high of $24.19. The company has a market capitalization of $808.45 million, a price-to-earnings ratio of 37.96 and a beta of 1.51.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share 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 company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.27 billion. Equities analysts expect that CrossAmerica Partners will post 0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 28th.

About CrossAmerica Partners

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.