CrossAmerica Partners LP (CAPL) To Go Ex-Dividend on August 3rd

CrossAmerica Partners LP (NYSE:CAPL – Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Stockholders of record on Monday, August 3rd will be given a dividend of 0.525 per share by the oil and gas company on Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 9.5%. The ex-dividend date is Monday, August 3rd.

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 research analysts expect CrossAmerica Partners to earn $0.85 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 247.1%.

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CrossAmerica Partners Price Performance

Shares of NYSE:CAPL opened at $22.04 on Thursday. The business’s 50 day moving average price is $22.30 and its 200-day moving average price is $21.83. The firm has a market capitalization of $840.19 million, a PE ratio of 14.79 and a beta of 0.29. CrossAmerica Partners has a 1 year low of $19.61 and a 1 year high of $23.34.

CrossAmerica Partners (NYSE:CAPL – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.42. The firm had revenue of $841.83 million during the quarter, compared to the consensus estimate of $697.31 million. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%. As a group, analysts expect that CrossAmerica Partners will post 0.93 earnings per share for the current year.

About CrossAmerica Partners

(Get Free Report)

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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