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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, November 13th. Stockholders of record on Monday, January 12th will be given a dividend of 0.14 per share by the investment management company on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 28.5%. The ex-dividend date of this dividend is Monday, January 12th.

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 Stock Performance

NYSE:ECC traded down $0.09 on Friday, reaching $5.89. 497,564 shares of the company’s stock were exchanged, compared to its average volume of 1,496,890. The firm has a market cap of $743.45 million, a price-to-earnings ratio of 53.50 and a beta of 0.37. 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 fifty day simple moving average of $6.52 and a 200-day simple moving average of $7.12. Eagle Point Credit has a 52 week low of $5.80 and a 52 week high of $9.53.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ECC. Fermata Advisors LLC raised its stake in Eagle Point Credit by 15.7% in the third quarter. Fermata Advisors LLC now owns 12,545 shares of the investment management company’s stock valued at $83,000 after purchasing an additional 1,706 shares in the last quarter. Cape Investment Advisory Inc. increased its holdings in shares of Eagle Point Credit by 91.2% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,592 shares of the investment management company’s stock worth $29,000 after buying an additional 1,713 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Eagle Point Credit by 21.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $66,000 after buying an additional 1,750 shares in the last quarter. MGO One Seven LLC raised its position in shares of Eagle Point Credit by 9.2% during the 2nd quarter. MGO One Seven LLC now owns 28,357 shares of the investment management company’s stock valued at $217,000 after buying an additional 2,382 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its holdings in shares of Eagle Point Credit by 15.9% during the 1st quarter. Arete Wealth Advisors LLC now owns 18,216 shares of the investment management company’s stock worth $150,000 after acquiring an additional 2,495 shares during the last quarter. Hedge funds and other institutional investors own 19.50% of the company’s stock.

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.