Raymond James Financial Inc. Invests $6.25 Million in CrossAmerica Partners LP (NYSE:CAPL)

Raymond James Financial Inc. bought a new stake in CrossAmerica Partners LP (NYSE:CAPL) in the 4th quarter, Holdings Channel.com reports. The firm bought 283,872 shares of the oil and gas company’s stock, valued at approximately $6,245,000.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP bought a new position in CrossAmerica Partners during the fourth quarter worth $44,000. Sonora Investment Management Group LLC bought a new position in shares of CrossAmerica Partners in the fourth quarter valued at about $224,000. Franklin Resources Inc. acquired a new stake in shares of CrossAmerica Partners during the 3rd quarter worth about $279,000. Sanctuary Advisors LLC boosted its holdings in shares of CrossAmerica Partners by 5.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after buying an additional 1,000 shares during the period. Finally, Thrivent Financial for Lutherans grew 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 valued at $560,000 after buying an additional 4,267 shares during the last quarter. 24.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

CrossAmerica Partners Trading Up 0.6 %

NYSE:CAPL opened at $23.74 on Tuesday. The stock has a 50 day simple moving average of $22.93 and a 200 day simple moving average of $21.78. The stock has a market cap of $903.54 million, a P/E ratio of 45.65 and a beta of 1.48. CrossAmerica Partners LP has a 1-year low of $18.43 and a 1-year high of $23.97.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results 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 company had revenue of $944.22 million during the quarter, compared to the consensus estimate of $1.21 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. As a group, sell-side analysts forecast that CrossAmerica Partners LP will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 3rd were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date of this dividend was Monday, February 3rd. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

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.