CrossAmerica Partners LPNYSE
CrossAmerica Partners Could Be A Turnaround Story In The Making
Tristan R. Brown
Tristan R. Brown
Tue, Nov. 8, 6:23 AM
Sat, Sep. 10, 8:25 AM
- Energy MLPs enjoyed a lift this week (at least until yesterday) following news of the Enbridge-Spectra merger, particularly those lacking sponsorship by producers that may be targets for consolidation.
- Credit Suisse sees logical players to be involved in combinations to secure access to opportunities and capital including ETE/ETP, EPD, MMP, PAA/PAGP, OKE/OKS, WPZ, PSX/PSXP, MPC/MPLX, TRGP, NS/NSH, GEL and TEP/TEGP.
- FBR Capital says MLP valuations have improved ~45% from lows reached early this year, and expects macro trends to lift the sector; the firm thinks CAPL could enjoy double-digit growth for nearly seven years, and says MMLP is another notable outperformer whose valuation reflects more than enough discount for a distribution cut (which the firm is forecasting) - it also likes ENLK, EEP, TLP, SRLP, USAC, WLKP and USDP,
- RBC notes favorable sentiment in the MLP realm, highlighting attractive valuations particularly at ETP, BWP and AMID, and sees dropdown stories - out of favor YTD - such as VLP and SHLX offering visible growth that can support the stocks over the next 12 months.
- ETFs: AMLP, AMJ, KYN, TYG, KYE, SRV, CEM, MLPI, NML, FEN, NTG, KMF, MLPA, EMLP, FMO, AMZA, FEI, JMF, SRF, CBA, MLPN, GMZ, MLPX, GER, EMO, TTP, CTR, MLPS, CEN, SMM, DSE, FPL, AMU, MIE, JMLP, ENFR, ATMP, IMLP
Fri, Aug. 5, 9:01 AM
Fri, Jul. 15, 7:54 AM
- CrossAmerica Partners (NYSE:CAPL) agrees to acquire assets of State Oil Co., one of the largest fuel distributors in Illinois, for $45M.
- CAPL says the locations sell more than 60M gallons of fuel annually through supply contracts with Marathon, Citgo, Phillips 66, Mobil, BP, Shell and others.
- CAPL expects the acquisition to be accretive to distributable cash flow.
Fri, May 6, 6:17 AM
- CrossAmerica Partners (NYSE:CAPL) declares $0.5975/share quarterly dividend, 0.8% increase from prior dividend of $0.5925.
- Forward yield 10.44%
- Payable May 31; for shareholders of record May 19; ex-div May 17.
Fri, May 6, 6:07 AM
- CrossAmerica Partners (NYSE:CAPL): Q1 EPS of $0.03 misses by $0.02.
- Revenue of $367.74M (-23.5% Y/Y) misses by $111.29M.
Fri, Feb. 19, 6:04 AM
- CrossAmerica Partners (NYSE:CAPL): Q4 EPS of $0.11 misses by $0.03.
- Revenue of $464.05M (-20.3% Y/Y) misses by $116.27M.
Mon, Feb. 1, 6:52 AM
- CrossAmerica Partners (NYSE:CAPL) declares $0.5925/share quarterly dividend, 2.6% increase from prior dividend of $0.5775.
- Forward yield 11.8%
- Payable Feb. 24; for shareholders of record Feb. 12; ex-div Feb. 10.
Nov. 4, 2015, 6:21 AM
- CrossAmerica Partners (NYSE:CAPL): Q3 EPS of $0.29 may not be comparable to consensus of $0.16.
- Revenue of $625.56M (-24.4% Y/Y) misses by $76.22M.
Aug. 24, 2015, 8:09 AM
- CrossAmerica Partners (NYSE:CAPL) declares $0.5625/share quarterly dividend, 2.7% increase from prior dividend of $0.5475.
- Forward yield 10.71%
- Payable Sept. 11; for shareholders of record Sept. 4; ex-div Sept. 2.
Aug. 7, 2015, 7:04 AM
- CrossAmerica Partners (NYSE:CAPL): Q2 EPS of -$0.01 misses by $0.07.
- Revenue of $647.45M (-15.2% Y/Y) beats by $56.35M.
Jun. 16, 2015, 9:24 AM
Jun. 15, 2015, 6:05 PM
- CrossAmerica Partners (NYSE:CAPL) -6% AH after announcing a public offering of 4.6M common units, with an underwriters option to purchase up to an additional 690K units.
- CAPL says it plans to use the proceeds to reduce outstanding debt under its credit facility, and then intends to reborrow under its credit facility to fund future acquisitions.
- Earlier: CST Brands, CrossAmerica Partners in dropdown deals totaling $261M
Jun. 15, 2015, 3:48 PM
- CST Brands (CST +0.6%) announces two dropdown transactions with CrossAmerica Partners (CAPL +1.9%), including 29 recently constructed CST stores for $135.5M and an additional 12.5% of CST Fuel Supply, CST's U.S wholesale supply business, for $126M.
- CAPL owns 5% of limited partnership interest in CST Fuel Supply L.P. and will lease the acquired stores to CST.
- Mizuho maintains its Buy rating for CST, as the asset dropdowns further show the potential earnings power from both fuel and new-to-industry sales, and CST's solid execution allows for diversification away from volatile fuel margins (Briefing.com).
Jun. 5, 2015, 8:33 AM
- CrossAmerica Partners (NYSE:CAPL) declares $0.5475/share quarterly dividend, 0.9% increase from prior dividend of $0.5425.
- Forward yield 6.44%
- Payable June 19; for shareholders of record June 11; ex-div June 9.
May 8, 2015, 7:07 AM
- CrossAmerica Partners (NYSE:CAPL): Q1 EPS of -$0.13 misses by $0.11.
- Revenue of $484.6M (+0.5% Y/Y) misses by $97.54M.