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

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Tuesday, August 12th. Stockholders of record on Monday, November 10th will be paid a dividend of 0.14 per share by the investment management company on Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 26.9%. The ex-dividend date is Monday, November 10th.

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 Trading Up 0.9%

Shares of NYSE:ECC opened at $6.25 on Friday. The company’s 50-day moving average price is $6.64 and its two-hundred day moving average price is $7.17. Eagle Point Credit has a one year low of $5.80 and a one year high of $9.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market capitalization of $788.93 million, a PE ratio of 56.78 and a beta of 0.37.

Analyst Upgrades and Downgrades

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

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.