Oppenheimer Lowers BlackRock TCP Capital (NASDAQ:TCPC) Price Target to $10.00

BlackRock TCP Capital (NASDAQ:TCPC) had its price target reduced by Oppenheimer from $11.00 to $10.00 in a research report sent to investors on Thursday, Benzinga reports. Oppenheimer currently has a market perform rating on the investment management company’s stock.

Several other equities analysts also recently commented on the stock. JMP Securities reiterated a market perform rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Wells Fargo & Company upped their target price on BlackRock TCP Capital from $11.00 to $11.50 and gave the company an equal weight rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods dropped their price objective on BlackRock TCP Capital from $11.50 to $10.50 and set a market perform rating for the company in a report on Friday, March 22nd. Finally, Raymond James lowered shares of BlackRock TCP Capital from an outperform rating to a market perform rating in a report on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $11.00.

BlackRock TCP Capital Price Performance

NASDAQ:TCPC opened at $10.28 on Thursday. The firm has a market capitalization of $593.88 million, a price-to-earnings ratio of 29.37 and a beta of 1.42. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05. The business has a 50 day simple moving average of $10.30 and a 200-day simple moving average of $11.05. BlackRock TCP Capital has a 1 year low of $9.80 and a 1 year high of $13.00.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. The company had revenue of $55.73 million during the quarter, compared to the consensus estimate of $50.99 million. During the same period last year, the company earned $0.44 earnings per share. Equities analysts forecast that BlackRock TCP Capital will post 1.71 EPS for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.34 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.36 dividend on an annualized basis and a yield of 13.23%. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Institutional Trading of BlackRock TCP Capital

Several hedge funds and other institutional investors have recently made changes to their positions in TCPC. Melia Wealth LLC purchased a new stake in BlackRock TCP Capital in the fourth quarter valued at about $12,577,000. Van ECK Associates Corp raised its holdings in shares of BlackRock TCP Capital by 58.5% in the first quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company’s stock worth $17,508,000 after buying an additional 619,519 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in shares of BlackRock TCP Capital during the first quarter worth $4,172,000. International Assets Investment Management LLC increased its position in shares of BlackRock TCP Capital by 1,054.0% in the 4th quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock valued at $4,754,000 after acquiring an additional 376,278 shares during the period. Finally, Privium Fund Management UK Ltd purchased a new stake in BlackRock TCP Capital during the 1st quarter valued at about $1,022,000.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.