CrossAmerica Partners LP (NYSE:CAPL – Get Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $22.40 and traded as high as $23.50. CrossAmerica Partners shares last traded at $22.98, with a volume of 38,689 shares traded.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on CAPL shares. Weiss Ratings raised shares of CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Wall Street Zen raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.
View Our Latest Analysis on CAPL
CrossAmerica Partners Price Performance
CrossAmerica Partners (NYSE:CAPL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $731.45 million. CrossAmerica Partners had a negative return on equity of 37.73% and a net margin of 1.43%. As a group, equities research analysts anticipate that CrossAmerica Partners LP will post 1.18 earnings per share for the current fiscal year.
CrossAmerica Partners Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 3rd were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 9.0%. The ex-dividend date was Monday, August 3rd. CrossAmerica Partners’s payout ratio is currently 153.28%.
Institutional Trading of CrossAmerica Partners
Institutional investors have recently bought and sold shares of the business. Gateway Wealth Partners LLC purchased a new stake in CrossAmerica Partners in the 1st quarter worth $214,000. Sei Investments Co. purchased a new position in CrossAmerica Partners during the first quarter valued at $278,000. NewEdge Wealth LLC grew its position in shares of CrossAmerica Partners by 1.3% in the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock valued at $1,953,000 after purchasing an additional 1,213 shares during the period. First Trust Advisors LP increased its stake in shares of CrossAmerica Partners by 5.9% during the first quarter. First Trust Advisors LP now owns 190,006 shares of the oil and gas company’s stock worth $3,948,000 after purchasing an additional 10,640 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of CrossAmerica Partners by 48.7% during the fourth quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 2,422 shares in the last quarter. 24.06% of the stock is owned by institutional investors and hedge funds.
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.
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