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

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

Eagle Point Credit has raised its dividend payment by an average of 13.6% annually over the last three years. Eagle Point Credit has a 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. 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 $1.68 annual dividend with an expected future payout ratio of 152.7%.

Eagle Point Credit Trading Down 2.7 %

NYSE ECC traded down $0.20 during mid-day trading on Friday, reaching $7.08. 2,263,971 shares of the stock were exchanged, compared to its average volume of 1,069,436. The stock has a market cap of $544.87 million, a P/E ratio of 8.43 and a beta of 0.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit has a one year low of $6.54 and a one year high of $10.49. The stock has a 50 day simple moving average of $8.28 and a 200-day simple moving average of $8.90.

Eagle Point Credit (NYSE:ECC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 earnings per share 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 business had revenue of $49.55 million during the quarter, compared to the consensus estimate of $49.76 million. On average, analysts anticipate that Eagle Point Credit will post 1.1 EPS for the current year.

Insider Buying and Selling at Eagle Point Credit

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

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their price target on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th.

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.