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

Shares of Eagle Point Credit Company Inc. (NYSE:ECC) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $7.4583.

A number of equities analysts have recently issued reports on ECC shares. Industrial Alliance Securities set a $7.75 price objective on Eagle Point Credit in a research report on Thursday, September 18th. Credit Suisse Group set a $7.00 price target on shares of Eagle Point Credit in a report on Thursday, November 20th. Alliance Global Partners initiated coverage on shares of Eagle Point Credit in a report on Thursday, September 18th. They issued a “buy” rating and a $7.75 target price on the stock. B. Riley decreased their price target on Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, LADENBURG THALM/SH SH raised Eagle Point Credit to a “strong-buy” rating in a research report on Wednesday, August 13th.

Institutional Investors Weigh In On Eagle Point Credit

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers boosted its holdings in Eagle Point Credit by 151.7% during the 1st quarter. Cetera Investment Advisers now owns 70,746 shares of the investment management company’s stock worth $573,000 after acquiring an additional 42,637 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Eagle Point Credit by 550.0% in the first quarter. PNC Financial Services Group Inc. now owns 9,100 shares of the investment management company’s stock valued at $74,000 after purchasing an additional 7,700 shares during the last quarter. Freestone Capital Holdings LLC lifted its position in shares of Eagle Point Credit by 57.9% during the first quarter. Freestone Capital Holdings LLC now owns 350,614 shares of the investment management company’s stock valued at $2,840,000 after purchasing an additional 128,531 shares in the last quarter. SFI Advisors LLC lifted its position in shares of Eagle Point Credit by 174.6% during the first quarter. SFI Advisors LLC now owns 65,173 shares of the investment management company’s stock valued at $528,000 after purchasing an additional 41,438 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its position in Eagle Point Credit by 7.4% in the 1st quarter. Kestra Advisory Services LLC now owns 127,787 shares of the investment management company’s stock worth $1,035,000 after purchasing an additional 8,794 shares in the last quarter. 19.50% of the stock is owned by hedge funds and other institutional investors.

Eagle Point Credit Stock Down 0.6%

Shares of NYSE:ECC opened at $6.24 on Tuesday. The firm has a market cap of $787.67 million, a P/E ratio of 32.82 and a beta of 0.28. Eagle Point Credit has a 12-month low of $5.44 and a 12-month high of $9.53. The business has a fifty day simple moving average of $6.24 and a 200 day simple moving average of $6.94. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32.

Eagle Point Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 11th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a c) annualized dividend and a yield of 26.9%. Eagle Point Credit’s dividend payout ratio (DPR) is presently 884.21%.

About Eagle Point Credit

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.