CrossAmerica Partners LP (NYSE:CAPL – Get Free Report) declared a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Investors of record on Monday, November 4th will be paid a dividend of 0.525 per share by the oil and gas company on Wednesday, November 13th. This represents a $2.10 annualized dividend and a dividend yield of 9.72%. The ex-dividend date is Monday, November 4th.
CrossAmerica Partners has a payout ratio of 362.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CrossAmerica Partners to earn $0.58 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 362.1%.
CrossAmerica Partners Stock Performance
NYSE:CAPL opened at $21.61 on Friday. The stock has a market capitalization of $821.76 million, a PE ratio of 35.43 and a beta of 1.51. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $24.19. The company has a fifty day moving average of $20.73 and a two-hundred day moving average of $20.63.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded CrossAmerica Partners from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 20th.
Check Out Our Latest Research Report on CAPL
About CrossAmerica Partners
CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.
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