EAGLE POINT Cr/COM (NYSE:ECC) has received a consensus rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $21.13.
ECC has been the subject of a number of research reports. National Securities reiterated a “buy” rating and set a $24.00 target price on shares of EAGLE POINT Cr/COM in a research report on Thursday, August 16th. ValuEngine lowered shares of EAGLE POINT Cr/COM from a “hold” rating to a “sell” rating in a research report on Thursday, June 7th.
Shares of NYSE:ECC opened at $18.21 on Thursday. The stock has a market cap of $342.89 million, a price-to-earnings ratio of 9.69 and a beta of 0.19. EAGLE POINT Cr/COM has a twelve month low of $17.28 and a twelve month high of $21.60.
The firm also recently announced a monthly dividend, which will be paid on Friday, August 31st. Shareholders of record on Monday, August 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 10th. This represents a $2.40 dividend on an annualized basis and a yield of 13.18%. EAGLE POINT Cr/COM’s dividend payout ratio is presently 127.66%.
A number of large investors have recently modified their holdings of ECC. Commonwealth Equity Services LLC bought a new position in EAGLE POINT Cr/COM during the second quarter worth about $183,000. Oppenheimer & Co. Inc. bought a new position in EAGLE POINT Cr/COM during the first quarter worth about $191,000. Centaurus Financial Inc. bought a new position in EAGLE POINT Cr/COM during the second quarter worth about $208,000. Citigroup Inc. boosted its position in EAGLE POINT Cr/COM by 341.4% during the first quarter. Citigroup Inc. now owns 13,242 shares of the investment management company’s stock worth $240,000 after purchasing an additional 10,242 shares during the period. Finally, Millennium Management LLC bought a new position in EAGLE POINT Cr/COM during the first quarter worth about $399,000. Hedge funds and other institutional investors own 45.86% of the company’s stock.
About EAGLE POINT Cr/COM
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.
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