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

Shares of CrossAmerica Partners LP (NYSE:CAPL) reached a new 52-week high during trading on Tuesday . The stock traded as high as $23.34 and last traded at $23.0250, with a volume of 69720 shares. The stock had previously closed at $22.71.

Analyst Ratings Changes

Several research analysts recently commented on CAPL shares. Zacks Research downgraded shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

CrossAmerica Partners Trading Up 1.4%

The firm has a market cap of $877.94 million, a PE ratio of 15.45 and a beta of 0.29. The business’s 50-day simple moving average is $21.51 and its 200 day simple moving average is $21.30.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.42. The business had revenue of $841.83 million for the quarter, compared to the consensus estimate of $697.31 million. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. Analysts expect that CrossAmerica Partners LP will post 0.93 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 4th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.10 dividend on an annualized basis and a yield of 9.1%. CrossAmerica Partners’s dividend payout ratio (DPR) is 140.94%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. purchased a new stake in CrossAmerica Partners during the 1st quarter worth approximately $105,000. Outlook Wealth Advisors LLC grew its position in CrossAmerica Partners by 80.9% during the 1st quarter. Outlook Wealth Advisors LLC now owns 22,250 shares of the oil and gas company’s stock worth $462,000 after purchasing an additional 9,950 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in CrossAmerica Partners during the 4th quarter worth approximately $193,000. ING Groep NV grew its position in CrossAmerica Partners by 30.8% during the 4th quarter. ING Groep NV now owns 17,000 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in CrossAmerica Partners by 7.5% during the 4th quarter. Sanctuary Advisors LLC now owns 17,821 shares of the oil and gas company’s stock worth $367,000 after purchasing an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.