CrossAmerica Partners (NYSE:CAPL) Upgraded at Zacks Research

Zacks Research upgraded shares of CrossAmerica Partners (NYSE:CAPL) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

CAPL has been the subject of a number of other reports. Wall Street Zen raised shares of CrossAmerica Partners from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings upgraded shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

CrossAmerica Partners Stock Up 2.2%

NYSE:CAPL opened at $21.34 on Monday. CrossAmerica Partners has a 12-month low of $19.61 and a 12-month high of $25.73. The firm has a market capitalization of $813.61 million, a price-to-earnings ratio of 20.71 and a beta of 0.39. The stock’s 50 day moving average price is $21.60 and its two-hundred day moving average price is $20.99.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $748.01 million. CrossAmerica Partners had a negative return on equity of 9.43% and a net margin of 1.14%. Equities research analysts expect that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 2nd were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date of this dividend was Monday, February 2nd. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 203.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP raised its position in shares of CrossAmerica Partners by 22.9% in the third quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock valued at $4,186,000 after buying an additional 37,093 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CrossAmerica Partners by 4.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock worth $12,774,000 after buying an additional 27,767 shares in the last quarter. Acadian Asset Management LLC bought a new position in CrossAmerica Partners during the 1st quarter worth $535,000. NewEdge Wealth LLC raised its holdings in CrossAmerica Partners by 25.4% in the 3rd quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company’s stock valued at $1,859,000 after acquiring an additional 18,798 shares in the last quarter. Finally, Lee Financial Co bought a new stake in shares of CrossAmerica Partners during the 3rd quarter valued at $379,000. Institutional investors and hedge funds 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.