CrossAmerica Partners LP (NYSE:CAPL) to Issue $0.53 Quarterly Dividend

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders 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 yield of 9.57%.

CrossAmerica Partners has a dividend payout ratio of 567.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Trading Down 0.4 %

Shares of NYSE:CAPL opened at $21.94 on Thursday. CrossAmerica Partners has a 12-month low of $18.43 and a 12-month high of $24.19. The company has a market capitalization of $834.63 million, a PE ratio of 42.18 and a beta of 1.46. The business has a 50 day moving average of $21.49 and a two-hundred day moving average of $20.79.

CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $0.31 EPS. Equities research analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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.