BlackRock TCP Capital (NASDAQ:TCPC) Given New $10.00 Price Target at Oppenheimer

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

TCPC has been the topic of several other reports. Raymond James lowered shares of BlackRock TCP Capital from an outperform rating to a market perform rating in a report on Friday, March 1st. Wells Fargo & Company raised their target price on BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an equal weight rating in a report on Monday, January 29th. JMP Securities restated a market perform rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Finally, Keefe, Bruyette & Woods cut their target price on shares of 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. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $11.00.

BlackRock TCP Capital Stock Down 0.1 %

Shares of NASDAQ:TCPC traded down $0.01 on Thursday, reaching $10.28. The company had a trading volume of 374,750 shares, compared to its average volume of 425,125. The firm has a market capitalization of $593.88 million, a PE ratio of 29.37 and a beta of 1.42. The company has a current ratio of 19.05, a quick ratio of 30.47 and a debt-to-equity ratio of 1.37. BlackRock TCP Capital has a 52-week low of $9.80 and a 52-week high of $13.00. The firm’s 50 day simple moving average is $10.30 and its 200-day simple moving average is $11.05.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $50.99 million. During the same period in the prior year, the company posted $0.44 EPS. As a group, analysts expect that BlackRock TCP Capital will post 1.7 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.34 dividend. The ex-dividend date of this dividend 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 currently 388.58%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TCPC. Raymond James Financial Services Advisors Inc. increased its position in shares of BlackRock TCP Capital by 16.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 188,391 shares of the investment management company’s stock worth $2,174,000 after purchasing an additional 27,105 shares in the last quarter. Raymond James & Associates raised its position in shares of BlackRock TCP Capital by 21.5% in the fourth quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock valued at $3,374,000 after buying an additional 51,766 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of BlackRock TCP Capital by 1,710.9% in the third quarter. PNC Financial Services Group Inc. now owns 36,218 shares of the investment management company’s stock worth $425,000 after buying an additional 34,218 shares in the last quarter. Bartlett & Co. LLC boosted its position in BlackRock TCP Capital by 26.7% during the fourth quarter. Bartlett & Co. LLC now owns 19,000 shares of the investment management company’s stock worth $221,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Signaturefd LLC grew its stake in BlackRock TCP Capital by 73.2% during the 4th quarter. Signaturefd LLC now owns 13,490 shares of the investment management company’s stock valued at $156,000 after acquiring an additional 5,700 shares in the last quarter.

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.