CrossAmerica Partners LP (NYSE:CAPL – Get Free Report) declared a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 9.72%. The ex-dividend date of this dividend 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. Equities research 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 Trading Up 2.9 %
CAPL stock opened at $21.61 on Friday. The firm has a 50 day simple moving average of $20.73 and a 200-day simple moving average of $20.63. The company has a market capitalization of $821.76 million, a P/E ratio of 35.43 and a beta of 1.51. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $24.19.
Analyst Ratings Changes
Separately, StockNews.com downgraded CrossAmerica Partners from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 20th.
Read Our Latest Stock Report on CrossAmerica Partners
CrossAmerica Partners Company Profile
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.
Featured Stories
- Five stocks we like better than CrossAmerica Partners
- EV Stocks and How to Profit from Them
- Rocket Lab Stock Soars Higher: Can It Keep Climbing?
- What Investors Need to Know About Upcoming IPOs
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
Receive News & Ratings for CrossAmerica Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CrossAmerica Partners and related companies with MarketBeat.com's FREE daily email newsletter.