BlackRock TCP Capital (NASDAQ:TCPC) Price Target Cut to $10.00 by Analysts at Oppenheimer

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

Several other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target 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. Raymond James cut shares of BlackRock TCP Capital from an outperform rating to a market perform rating in a report on Friday, March 1st. JMP Securities reiterated a market perform rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Finally, Wells Fargo & Company boosted their price objective on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an equal weight rating in a report on Monday, January 29th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $11.00.

BlackRock TCP Capital Stock Down 0.1 %

NASDAQ:TCPC traded down $0.01 during mid-day trading on Thursday, hitting $10.28. 374,750 shares of the company’s stock were exchanged, compared to its average volume of 425,125. The company has a market cap of $593.88 million, a PE 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 30.47. BlackRock TCP Capital has a one year low of $9.80 and a one year high of $13.00. The business has a fifty day moving average price of $10.30 and a 200 day moving average price of $11.05.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.45 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 firm had revenue of $55.73 million for the quarter, compared to analysts’ expectations of $50.99 million. During the same period in the previous year, the firm posted $0.44 EPS. Equities analysts predict that BlackRock TCP Capital will post 1.7 EPS for the current year.

BlackRock TCP Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.36 annualized dividend and a dividend yield of 13.23%. BlackRock TCP Capital’s payout ratio is 388.58%.

Institutional Investors Weigh In On BlackRock TCP Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCPC. Register Financial Advisors LLC purchased a new stake in BlackRock TCP Capital during the 1st quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new stake in BlackRock TCP Capital during the first quarter valued at $31,000. Morton Brown Family Wealth LLC purchased a new stake in BlackRock TCP Capital during the fourth quarter valued at $32,000. Cape Investment Advisory Inc. bought a new position in BlackRock TCP Capital in the fourth quarter valued at about $74,000. Finally, Tucker Asset Management LLC purchased a new position in BlackRock TCP Capital in the fourth quarter worth about $74,000.

About BlackRock TCP Capital

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.