Eagle Point Credit Co. (ECC) to Issue Quarterly Dividend of C$0.60 on October 31st
Eagle Point Credit Co. (NYSE:ECC) announced a quarterly dividend on Friday, September 2nd. Investors of record on Friday, September 30th will be paid a dividend of 0.60 per share by the investment management company on Monday, October 31st. This represents a $2.40 dividend on an annualized basis and a yield of 13.59%. The ex-dividend date is Wednesday, September 28th.
In other Eagle Point Credit news, CFO Kenneth P. Onorio acquired 1,696 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was acquired at an average price of C$17.75 per share, with a total value of C$30,104.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company’s stock.
An institutional investor recently bought a new position in Eagle Point Credit stock. National Asset Management Inc. acquired a new position in shares of Eagle Point Credit Co. (NYSE:ECC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,158 shares of the investment management company’s stock, valued at approximately $261,000. Institutional investors and hedge funds own 71.24% of the company’s stock.
Eagle Point Credit (NYSE:ECC) opened at 17.66 on Friday. The stock’s 50 day moving average is $17.39 and its 200-day moving average is $17.01. Eagle Point Credit has a 52 week low of $13.30 and a 52 week high of $19.78.
Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings data on Wednesday, August 24th. The investment management company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by $0.02. Equities analysts anticipate that Eagle Point Credit will post $2.33 EPS for the current year.
ECC has been the subject of a number of recent analyst reports. Deutsche Bank AG raised their price objective on shares of Eagle Point Credit from $18.50 to $19.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. National Securities reiterated a “buy” rating and set a $24.00 price target on shares of Eagle Point Credit in a research report on Thursday, August 25th. Zacks Investment Research downgraded shares of Eagle Point Credit from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Finally, Compass Point lifted their price target on shares of Eagle Point Credit from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of C$19.25.
Eagle Point Credit Company Profile
Eagle Point Credit Company Inc is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company invests primarily in equity and junior debt tranches of collateralized loan obligations (CLOs).
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