CrossAmerica Partners LP Declares Quarterly Dividend of $0.53 (NYSE:CAPL)

CrossAmerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Monday, May 4th will be given a dividend of 0.525 per share by the oil and gas company on Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend is Monday, May 4th.

CrossAmerica Partners has a payout ratio of 411.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CrossAmerica Partners to earn $0.71 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 295.8%.

CrossAmerica Partners Price Performance

CrossAmerica Partners stock opened at $21.01 on Thursday. The company has a market cap of $801.11 million, a price-to-earnings ratio of 20.40 and a beta of 0.35. The firm has a 50-day moving average of $21.44 and a 200-day moving average of $21.13. CrossAmerica Partners has a one year low of $19.61 and a one year high of $24.53.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. CrossAmerica Partners had a negative return on equity of 9.43% and a net margin of 1.14%.The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $748.01 million. As a group, sell-side analysts expect that CrossAmerica Partners will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On CrossAmerica Partners

Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in CrossAmerica Partners by 43.3% in the 4th quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 1,869 shares during the period. Outlook Wealth Advisors LLC lifted its holdings in shares of CrossAmerica Partners by 80.9% during the first quarter. Outlook Wealth Advisors LLC now owns 22,250 shares of the oil and gas company’s stock worth $462,000 after buying an additional 9,950 shares in the last quarter. ING Groep NV lifted its holdings in shares of CrossAmerica Partners by 30.8% during the fourth quarter. ING Groep NV now owns 17,000 shares of the oil and gas company’s stock worth $350,000 after buying an additional 4,000 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of CrossAmerica Partners by 7.5% in the fourth quarter. Sanctuary Advisors LLC now owns 17,821 shares of the oil and gas company’s stock valued at $367,000 after acquiring an additional 1,250 shares during the period. Finally, CWM LLC boosted its position in shares of CrossAmerica Partners by 35.5% in the fourth quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock valued at $70,000 after acquiring an additional 887 shares during the period. Institutional investors own 24.06% of the company’s stock.

About CrossAmerica Partners

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.