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

Shares of Eagle Point Credit Company Inc. (NYSE:ECC) have been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.4583.

ECC has been the subject of a number of recent analyst reports. Zacks Research upgraded Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. B. Riley dropped their price target on shares of Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, Credit Suisse Group set a $7.00 price target on shares of Eagle Point Credit in a report on Thursday, November 20th.

Hedge Funds Weigh In On Eagle Point Credit

Large investors have recently added to or reduced their stakes in the company. Balboa Wealth Partners increased its stake in shares of Eagle Point Credit by 62.1% during the fourth quarter. Balboa Wealth Partners now owns 90,343 shares of the investment management company’s stock valued at $520,000 after acquiring an additional 34,624 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Eagle Point Credit during the 4th quarter valued at $77,000. CoreCap Advisors LLC raised its stake in shares of Eagle Point Credit by 282.9% in the 4th quarter. CoreCap Advisors LLC now owns 14,211 shares of the investment management company’s stock worth $82,000 after buying an additional 10,500 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of Eagle Point Credit in the fourth quarter valued at $209,000. Finally, Sage Capital Advisors llc boosted its stake in Eagle Point Credit by 12.4% during the fourth quarter. Sage Capital Advisors llc now owns 41,170 shares of the investment management company’s stock valued at $237,000 after buying an additional 4,544 shares in the last quarter. 19.50% of the stock is currently owned by institutional investors.

Eagle Point Credit Price Performance

Shares of Eagle Point Credit stock opened at $5.69 on Wednesday. Eagle Point Credit has a 1-year low of $5.40 and a 1-year high of $8.96. The company has a market capitalization of $718.19 million, a PE ratio of 29.92 and a beta of 0.27. The business has a 50-day moving average of $5.85 and a 200-day moving average of $6.48.

Eagle Point Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a c) annualized dividend and a dividend yield of 29.6%. Eagle Point Credit’s dividend payout ratio (DPR) is presently 884.21%.

Eagle Point Credit Company Profile

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.