Eagle Point Credit Company Inc. (NYSE:ECC) Receives $8.21 Consensus PT 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 analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.2083.

Several analysts have recently weighed in on the company. Alliance Global Partners started coverage on Eagle Point Credit in a report on Thursday, September 18th. They issued a “buy” rating and a $7.75 target price for the company. LADENBURG THALM/SH SH upgraded shares of Eagle Point Credit to a “strong-buy” rating in a research note on Wednesday, August 13th. Zacks Research raised Eagle Point Credit from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Industrial Alliance Securities set a $7.75 price objective on shares of Eagle Point Credit in a research report on Thursday, September 18th. Finally, Craig Hallum began 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 target on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Axxcess Wealth Management LLC acquired a new stake in shares of Eagle Point Credit during the third quarter worth approximately $70,000. Balboa Wealth Partners lifted its holdings in Eagle Point Credit by 7.2% in the third quarter. Balboa Wealth Partners now owns 55,719 shares of the investment management company’s stock worth $368,000 after purchasing an additional 3,735 shares during the period. Oxinas Partners Wealth Management LLC boosted its stake in Eagle Point Credit by 14.5% during the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 131,350 shares of the investment management company’s stock valued at $868,000 after purchasing an additional 16,629 shares in the last quarter. Prospera Financial Services Inc acquired a new position in shares of Eagle Point Credit in the 3rd quarter worth approximately $111,000. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Eagle Point Credit by 4.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 306,809 shares of the investment management company’s stock worth $2,028,000 after acquiring an additional 11,940 shares during the last quarter. 19.50% of the stock is owned by institutional investors and hedge funds.

Eagle Point Credit Trading Up 0.9%

Shares of Eagle Point Credit stock opened at $6.25 on Friday. The company has a fifty day simple moving average of $6.64 and a 200-day simple moving average of $7.16. Eagle Point Credit has a 12-month low of $5.80 and a 12-month high of $9.79. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The stock has a market cap of $788.93 million, a price-to-earnings ratio of 56.78 and a beta of 0.37.

Eagle Point Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, November 10th. This represents a c) dividend on an annualized basis and a dividend yield of 26.9%. Eagle Point Credit’s payout ratio is presently 1,527.27%.

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.