CrossAmerica Partners LP (NYSE:CAPL – Get Free Report) shares passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $22.02 and traded as low as $20.96. CrossAmerica Partners shares last traded at $21.09, with a volume of 68,898 shares.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on CAPL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CrossAmerica Partners in a report on Tuesday, September 8th. Zacks Research cut CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, CrossAmerica Partners has an average rating of “Hold”.
Read Our Latest Research Report on CAPL
CrossAmerica Partners Trading Down 6.3%
The stock’s fifty day moving average price is $22.21 and its 200-day moving average price is $22.02. The firm has a market cap of $805.01 million, a price-to-earnings ratio of 15.39 and a beta of 0.34.
CrossAmerica Partners (NYSE:CAPL – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. CrossAmerica Partners had a negative return on equity of 37.73% and a net margin of 1.43%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $731.45 million. Analysts predict that CrossAmerica Partners LP will post 1.23 earnings per share for the current year.
CrossAmerica Partners Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be given a $0.5250 dividend. The ex-dividend date is Monday, November 2nd. This represents a $2.10 dividend on an annualized basis and a yield of 10.0%. CrossAmerica Partners’s payout ratio is currently 153.28%.
Hedge Funds Weigh In On CrossAmerica Partners
Several large investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its holdings in shares of CrossAmerica Partners by 40.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 600 shares during the period. Gateway Wealth Partners LLC purchased a new stake in CrossAmerica Partners in the 1st quarter valued at about $214,000. Commonwealth Equity Services LLC purchased a new stake in CrossAmerica Partners in the 3rd quarter valued at about $249,000. Sei Investments Co. purchased a new stake in CrossAmerica Partners in the 1st quarter valued at about $278,000. Finally, NewEdge Wealth LLC lifted its position in 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 buying an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 24.06% of the company’s stock.
About CrossAmerica Partners
CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.
In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.
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