Eagle Point Credit Company Inc. (NYSE:ECC) Declares Dividend of $0.14

Eagle Point Credit Company Inc. (NYSE:ECC) declared a dividend on Wednesday, February 12th, NASDAQ Dividends reports. Stockholders of record on Thursday, April 10th will be paid a dividend of 0.14 per share by the investment management company on Wednesday, April 30th. The ex-dividend date is Thursday, April 10th.

Eagle Point Credit has increased its dividend by an average of 13.6% annually over the last three years. Eagle Point Credit has a dividend payout ratio of 166.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Eagle Point Credit to earn $1.10 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 152.7%.

Eagle Point Credit Trading Down 2.3 %

NYSE ECC opened at $7.05 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The stock has a market capitalization of $542.10 million, a P/E ratio of 8.39 and a beta of 0.35. The firm’s 50-day moving average is $8.43 and its two-hundred day moving average is $8.99. Eagle Point Credit has a 12 month low of $6.54 and a 12 month high of $10.49.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. The company had revenue of $49.55 million during the quarter, compared to analyst estimates of $49.76 million. On average, sell-side analysts anticipate that Eagle Point Credit will post 1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their price objective on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th.

Insider Activity

In other Eagle Point Credit news, CEO Thomas P. Majewski bought 1,087 shares of Eagle Point Credit stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $23.00 per share, for a total transaction of $25,001.00. Following the acquisition, the chief executive officer now directly owns 1,087 shares in the company, valued at $25,001. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Eagle Point Credit Company Profile

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.