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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, November 13th. Shareholders of record on Monday, February 9th will be paid a dividend of 0.14 per share by the investment management company on Friday, February 27th. This represents a c) annualized dividend and a yield of 28.7%. The ex-dividend date is Monday, February 9th.

Eagle Point Credit has decreased its dividend payment by an average of 0.0%per year over the last three years. Eagle Point Credit has a dividend payout ratio of 193.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Eagle Point Credit to earn $1.10 per share next year, which means the company may not be able to cover its $1.82 annual dividend with an expected future payout ratio of 165.5%.

Eagle Point Credit Price Performance

NYSE ECC traded down $0.13 on Friday, hitting $5.85. 734,013 shares of the company’s stock were exchanged, compared to its average volume of 1,498,372. The stock has a 50-day moving average of $6.52 and a 200-day moving average of $7.12. The stock has a market cap of $738.40 million, a price-to-earnings ratio of 53.23 and a beta of 0.37. Eagle Point Credit has a 52 week low of $5.80 and a 52 week high of $9.53. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings results on Thursday, November 13th. The investment management company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Eagle Point Credit had a return on equity of 13.49% and a net margin of 6.73%.The company had revenue of $52.00 million during the quarter, compared to analysts’ expectations of $50.86 million. Analysts expect that Eagle Point Credit will post 1.1 earnings per share for the current year.

Analysts Set New Price Targets

ECC has been the topic of a number of research analyst reports. Craig Hallum assumed coverage on shares of Eagle Point Credit in a research note on Thursday, September 18th. They issued a “buy” rating and a $7.75 price target on the stock. Zacks Research upgraded Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. LADENBURG THALM/SH SH raised shares of Eagle Point Credit to a “strong-buy” rating in a research note on Wednesday, August 13th. Industrial Alliance Securities set a $7.75 price objective on shares of Eagle Point Credit in a research report on Thursday, September 18th. Finally, Alliance Global Partners began coverage on shares of Eagle Point Credit in a report on Thursday, September 18th. They issued a “buy” rating and a $7.75 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.21.

About Eagle Point Credit

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.