Eagle Point Credit Company Inc (NYSE:ECC) announced a monthly dividend on Wednesday, January 3rd, Wall Street Journal reports. Stockholders of record on Monday, February 12th will be paid a dividend of 0.20 per share by the investment management company on Wednesday, February 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.44%. The ex-dividend date of this dividend is Friday, February 9th.

Shares of Eagle Point Credit (NYSE ECC) traded up $0.26 during trading hours on Wednesday, hitting $19.30. 85,652 shares of the stock were exchanged, compared to its average volume of 68,750. Eagle Point Credit has a 1-year low of $16.70 and a 1-year high of $22.11. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $351.71, a PE ratio of 7.56 and a beta of 0.27.

A number of brokerages have recently commented on ECC. Zacks Investment Research raised shares of Eagle Point Credit from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. National Securities reaffirmed a “buy” rating and issued a $24.00 target price on shares of Eagle Point Credit in a report on Monday, November 20th. CIBC reduced their target price on shares of Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, November 15th. Oppenheimer reduced their target price on shares of Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, November 15th. Finally, Ladenburg Thalmann Financial Services began coverage on shares of Eagle Point Credit in a report on Monday, September 25th. They issued a “buy” rating and a $20.50 target price for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.13.

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Eagle Point Credit Company Profile

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.

Dividend History for Eagle Point Credit (NYSE:ECC)

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