Eagle Point Credit Company Inc. (NYSE:ECC) Receives $7.46 Average Target Price from Analysts

Shares of Eagle Point Credit Company Inc. (NYSE:ECC) have been given an average rating of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $7.4583.

A number of equities analysts recently commented on the company. Zacks Research upgraded Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Alliance Global Partners assumed coverage on Eagle Point Credit in a report on Thursday, September 18th. They set a “buy” rating and a $7.75 target price on the stock. Industrial Alliance Securities set a $7.75 target price on Eagle Point Credit in a research report on Thursday, September 18th. Craig Hallum started coverage on Eagle Point Credit in a research report on Thursday, September 18th. They set a “buy” rating and a $7.75 price target on the stock. Finally, Credit Suisse Group set a $7.00 price objective on shares of Eagle Point Credit in a report on Thursday, November 20th.

Eagle Point Credit Price Performance

Shares of ECC stock opened at $5.71 on Friday. The firm has a fifty day moving average of $5.96 and a two-hundred day moving average of $6.68. The firm has a market cap of $720.71 million, a P/E ratio of 30.03 and a beta of 0.28. Eagle Point Credit has a 1-year low of $5.40 and a 1-year high of $9.23.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a c) dividend on an annualized basis and a yield of 29.4%. Eagle Point Credit’s dividend payout ratio (DPR) is currently 884.21%.

Institutional Trading of Eagle Point Credit

Institutional investors and hedge funds have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC bought a new stake in shares of Eagle Point Credit in the 2nd quarter worth approximately $25,000. Cape Investment Advisory Inc. lifted its stake in Eagle Point Credit by 91.2% in the first quarter. Cape Investment Advisory Inc. now owns 3,592 shares of the investment management company’s stock valued at $29,000 after buying an additional 1,713 shares during the last quarter. IFP Advisors Inc bought a new stake in Eagle Point Credit in the second quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Eagle Point Credit during the second quarter valued at $33,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Eagle Point Credit during the second quarter worth about $35,000. 19.50% of the stock is currently owned by institutional investors and hedge funds.

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.