Eagle Point Credit Company Inc. (NYSE:ECC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Eagle Point Credit Company Inc. (NYSE:ECC) has earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $8.2083.

ECC has been the topic of a number of recent analyst reports. Industrial Alliance Securities set a $7.75 price target on Eagle Point Credit in a report on Thursday, September 18th. Craig Hallum initiated coverage on shares of Eagle Point Credit in a research note on Thursday, September 18th. They set a “buy” rating and a $7.75 price objective on the stock. Alliance Global Partners initiated coverage on shares of Eagle Point Credit in a research note on Thursday, September 18th. They set a “buy” rating and a $7.75 price objective on the stock. LADENBURG THALM/SH SH upgraded shares of Eagle Point Credit to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Zacks Research lowered shares of Eagle Point Credit from a “hold” rating to a “strong sell” rating in a research note on Friday, September 12th.

Eagle Point Credit Stock Performance

ECC opened at $6.64 on Monday. The business’s 50 day moving average is $6.92 and its 200-day moving average is $7.36. The stock has a market cap of $510.93 million, a PE ratio of 60.37 and a beta of 0.39. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. Eagle Point Credit has a twelve month low of $6.00 and a twelve month high of $9.81.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 10th will be paid a dividend of $0.14 per share. This represents a c) dividend on an annualized basis and a dividend yield of 25.3%. The ex-dividend date is Monday, November 10th. Eagle Point Credit’s dividend payout ratio (DPR) is currently 1,527.27%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC acquired a new position in Eagle Point Credit in the second quarter worth approximately $25,000. Cape Investment Advisory Inc. grew its position 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 worth $29,000 after buying an additional 1,713 shares during the last quarter. IFP Advisors Inc acquired a new position in Eagle Point Credit in the second quarter worth approximately $28,000. Geneos Wealth Management Inc. acquired a new position in Eagle Point Credit in the second quarter worth approximately $33,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Eagle Point Credit in the first quarter worth approximately $35,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Company Profile

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.