Eagle Point Credit Company Inc to Issue Monthly Dividend of $0.20 (ECC)
Eagle Point Credit Company Inc (NYSE:ECC) declared a monthly dividend on Wednesday, January 3rd, Wall Street Journal reports. Stockholders of record on Monday, March 12th will be paid a dividend of 0.20 per share by the investment management company on Thursday, March 29th. This represents a $2.40 annualized dividend and a dividend yield of 13.33%. The ex-dividend date of this dividend is Friday, March 9th.
Eagle Point Credit (NYSE ECC) opened at $18.01 on Friday. The firm has a market cap of $338.57, a price-to-earnings ratio of 10.41 and a beta of 0.21. Eagle Point Credit has a one year low of $17.28 and a one year high of $22.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.25 and a current ratio of 3.25.
Several brokerages have recently weighed in on ECC. Zacks Investment Research cut shares of Eagle Point Credit from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. National Securities reiterated a “buy” rating and set a $24.00 price target on shares of Eagle Point Credit in a research note on Monday, February 26th. CIBC dropped their price target on shares of Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 15th. Finally, Oppenheimer dropped their price target on shares of Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $21.13.
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Eagle Point Credit Company Inc is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company primarily invests in equity and junior debt tranches of collateralized loan obligations (CLOs) that are collateralized by a portfolio consisting primarily of the below investment grade United States senior secured loans.
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