Franklin Resources Inc. Takes $279,000 Position in CrossAmerica Partners LP (NYSE:CAPL)

Franklin Resources Inc. acquired a new stake in CrossAmerica Partners LP (NYSE:CAPL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,700 shares of the oil and gas company’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of CrossAmerica Partners by 376.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,000 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in CrossAmerica Partners in the 2nd quarter worth about $348,000. Finally, Thrivent Financial for Lutherans increased its stake in CrossAmerica Partners by 18.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock valued at $560,000 after buying an additional 4,267 shares during the last quarter. Institutional investors and hedge funds own 24.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

CrossAmerica Partners Price Performance

NYSE CAPL opened at $22.00 on Thursday. The business’s fifty day moving average is $21.02 and its 200-day moving average is $20.55. The stock has a market capitalization of $837.03 million, a price-to-earnings ratio of 42.31 and a beta of 1.48. CrossAmerica Partners LP has a one year low of $18.43 and a one year high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company earned $0.31 earnings per share. Research analysts expect that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Monday, November 4th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.55%. The ex-dividend date was Monday, November 4th. CrossAmerica Partners’s payout ratio is currently 403.85%.

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.