CrossAmerica Partners LP (CAPL) To Go Ex-Dividend on February 2nd

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, January 21st. Stockholders of record on Monday, February 2nd will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, February 12th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Monday, February 2nd.

CrossAmerica Partners has a dividend payout ratio of 411.8% meaning 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 $0.22 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 Stock Up 1.3%

Shares of NYSE CAPL opened at $22.54 on Friday. CrossAmerica Partners has a 12 month low of $19.61 and a 12 month high of $25.73. The company has a market cap of $859.22 million, a price-to-earnings ratio of 18.78 and a beta of 0.35. The business has a fifty day simple moving average of $20.90 and a 200-day simple moving average of $20.79.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.08. The firm had revenue of $971.85 million for the quarter, compared to the consensus estimate of $780.93 million. CrossAmerica Partners had a negative return on equity of 23.68% and a net margin of 1.30%. As a group, sell-side analysts expect that CrossAmerica Partners will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of CrossAmerica Partners in a report on Monday, December 29th. Wall Street Zen lowered CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, CrossAmerica Partners has an average rating of “Sell”.

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.