CrossAmerica Partners LP (CAPL) to Issue Quarterly Dividend of $0.53 on February 13th

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Monday, February 3rd will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, February 13th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.04%. The ex-dividend date of this dividend is Monday, February 3rd.

CrossAmerica Partners has a payout ratio of 567.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CrossAmerica Partners to earn $0.22 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 954.5%.

CrossAmerica Partners Price Performance

Shares of CAPL opened at $23.22 on Friday. The firm has a market capitalization of $883.52 million, a price-to-earnings ratio of 44.65 and a beta of 1.46. The company has a 50-day moving average of $21.86 and a 200 day moving average of $20.93. CrossAmerica Partners has a 1-year low of $18.43 and a 1-year high of $24.13.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.28 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities analysts anticipate that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

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.