Eagle Point Credit Company Inc. (ECC) to Issue Monthly Dividend of $0.14 on February 27th

Eagle Point Credit Company Inc. (NYSE:ECC) announced 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) dividend on an annualized basis and a yield of 32.7%. The ex-dividend date of this dividend 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 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. 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 Up 3.4%

Shares of ECC stock opened at $5.14 on Friday. The stock’s 50-day moving average price is $5.74 and its 200 day moving average price is $6.31. The stock has a market capitalization of $649.34 million, a PE ratio of 27.05 and a beta of 0.28. Eagle Point Credit has a 52-week low of $4.94 and a 52-week high of $8.96.

Hedge Funds Weigh In On Eagle Point Credit

Large investors have recently made changes to their positions in the stock. Fermata Advisors LLC grew its position in Eagle Point Credit by 15.7% during the third quarter. Fermata Advisors LLC now owns 12,545 shares of the investment management company’s stock worth $83,000 after buying an additional 1,706 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Eagle Point Credit by 21.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $66,000 after acquiring an additional 1,750 shares during the period. MGO One Seven LLC increased its stake in Eagle Point Credit by 9.2% in the 2nd quarter. MGO One Seven LLC now owns 28,357 shares of the investment management company’s stock valued at $217,000 after purchasing an additional 2,382 shares in the last quarter. N.E.W. Advisory Services LLC raised its holdings in Eagle Point Credit by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 5,300 shares of the investment management company’s stock worth $31,000 after purchasing an additional 2,650 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC purchased a new stake in Eagle Point Credit during the second quarter worth $25,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

About Eagle Point Credit

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.