Eagle Point Credit Company Inc (NYSE:ECC) declared a monthly dividend on Wednesday, January 3rd, Wall Street Journal reports. Investors of record on Monday, March 12th will be paid a dividend of 0.20 per share by the investment management company on Thursday, March 29th. This represents a $2.40 dividend on an annualized basis and a yield of 12.44%. The ex-dividend date of this dividend is Friday, March 9th.
Shares of Eagle Point Credit (NYSE ECC) traded up $0.26 during trading on Wednesday, reaching $19.30. 85,652 shares of the company were exchanged, compared to its average volume of 68,750. The stock has a market cap of $351.71, a price-to-earnings ratio of 7.56 and a beta of 0.27. Eagle Point Credit has a 1 year low of $16.70 and a 1 year high of $22.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.25 and a quick ratio of 3.25.
A number of brokerages recently weighed in on ECC. Zacks Investment Research raised shares of Eagle Point Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Ladenburg Thalmann Financial Services began coverage on shares of Eagle Point Credit in a research note on Monday, September 25th. They issued a “buy” rating and a $20.50 price target on the stock. National Securities reaffirmed a “buy” rating and issued a $24.00 price target on shares of Eagle Point Credit in a research note on Monday, November 20th. CIBC decreased their price target on shares of Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 15th. Finally, Oppenheimer decreased their target price on shares of Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.13.
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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.
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