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

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

Several other research firms have also weighed in on TCPC. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a market perform rating on the stock in a report on Friday, March 22nd. Wells Fargo & Company lifted their price target 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. Raymond James downgraded BlackRock TCP Capital from an outperform rating to a market perform rating in a research note on Friday, March 1st. Finally, JMP Securities restated a market perform rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $11.00.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ:TCPC opened at $10.28 on Thursday. The business’s 50 day moving average price is $10.30 and its 200-day moving average price is $11.05. BlackRock TCP Capital has a 1 year low of $9.80 and a 1 year high of $13.00. 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 firm has a market capitalization of $593.88 million, a PE ratio of 29.37 and a beta of 1.42.

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

BlackRock TCP Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.34 dividend. 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 dividend payout ratio is presently 388.58%.

Institutional Trading of BlackRock TCP Capital

Several large investors have recently modified their holdings of TCPC. Register Financial Advisors LLC purchased a new stake in shares of BlackRock TCP Capital during the first quarter worth about $26,000. Future Financial Wealth Managment LLC purchased a new stake in BlackRock TCP Capital in the 1st quarter worth approximately $31,000. Morton Brown Family Wealth LLC purchased a new position in shares of BlackRock TCP Capital during the 4th quarter worth $32,000. Cape Investment Advisory Inc. acquired a new stake in shares of BlackRock TCP Capital during the fourth quarter worth $74,000. Finally, Tucker Asset Management LLC acquired a new position in BlackRock TCP Capital in the fourth quarter valued at $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.