ECA Marcellus Trust Announces Quarterly Dividend of $0.36 (ECT)
ECA Marcellus Trust (NYSE:ECT) announced a quarterly dividend on Tuesday, February 4th, American Banking News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.362 per share on Friday, February 28th. This represents a $1.45 annualized dividend and a dividend yield of 15.69%.
A number of research firms have recently commented on ECT. Analysts at Raymond James downgraded shares of ECA Marcellus Trust from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, January 9th.
ECA Marcellus Trust (NYSE:ECT) traded up 1.65% on Tuesday, hitting $9.23. 104,771 shares of the company’s stock traded hands. ECA Marcellus Trust has a 1-year low of $7.00 and a 1-year high of $19.00. The stock’s 50-day moving average is $8.3 and its 200-day moving average is $9.08. The company has a market cap of $162.5 million and a P/E ratio of 4.98.
ECA Marcellus Trust I (NYSE:ECT) is a trust formed by Energy Corporation of America (ECA) to own royalty interests in 14 producing horizontal natural gas wells producing from the Marcellus Shale formation and located in Greene County, Pennsylvania (the Producing Wells) and royalty interests in 52 horizontal natural gas development wells to be drilled to the Marcellus Shale formation (the PUD Wells) within the Area of Mutual Interest consisted of 9,300 net acres held by ECA in Greene County, Pennsylvania.
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