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

Franklin Resources Inc. acquired a new position in CrossAmerica Partners LP (NYSE:CAPL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,700 shares of the oil and gas company’s stock, valued at approximately $279,000.

Other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC lifted its stake in shares of CrossAmerica Partners by 5.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC raised its stake in CrossAmerica Partners by 376.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 2,000 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings 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 worth $560,000 after purchasing an additional 4,267 shares in the last quarter. 24.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CrossAmerica Partners Stock Up 1.6 %

CrossAmerica Partners stock opened at $22.00 on Thursday. The company’s 50-day moving average price is $21.02 and its 200-day moving average price is $20.55. The company has a market cap of $837.03 million, a PE ratio of 42.31 and a beta of 1.48. CrossAmerica Partners LP has a twelve month low of $18.43 and a twelve month high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data 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. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.28 billion. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, sell-side analysts expect that CrossAmerica Partners LP will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

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 dividend 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.