BlackRock TCP Capital (NASDAQ:TCPC) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research report released on Thursday.

Other analysts have also recently issued research reports about the company. Oppenheimer lowered their price target on BlackRock TCP Capital from $11.00 to $10.00 and set a market perform rating on the stock in a report on Thursday, May 2nd. Keefe, Bruyette & Woods lowered their price target on 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. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $10.67.

BlackRock TCP Capital Stock Performance

Shares of TCPC opened at $11.01 on Thursday. The stock’s 50-day simple moving average is $10.89 and its 200 day simple moving average is $10.85. The stock has a market capitalization of $942.35 million, a price-to-earnings ratio of 31.46 and a beta of 1.49. The company has a debt-to-equity ratio of 1.37, a quick ratio of 19.05 and a current ratio of 19.05. BlackRock TCP Capital has a 52-week low of $9.90 and a 52-week high of $13.00.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data 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. The business had revenue of $55.73 million for the quarter, compared to analysts’ expectations of $50.99 million. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. During the same quarter in the prior year, the firm posted $0.44 EPS. Research analysts forecast that BlackRock TCP Capital will post 1.71 EPS for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.36 annualized dividend and a dividend yield of 12.35%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors have recently modified their holdings of TCPC. Bartlett & Co. LLC increased its position in shares of BlackRock TCP Capital by 26.7% during the 4th quarter. Bartlett & Co. LLC now owns 19,000 shares of the investment management company’s stock valued at $221,000 after purchasing an additional 4,000 shares during the last quarter. Raymond James & Associates lifted its stake in shares of BlackRock TCP Capital by 21.5% in the 4th quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock valued at $3,374,000 after purchasing an additional 51,766 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of BlackRock TCP Capital by 16.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 188,391 shares of the investment management company’s stock valued at $2,174,000 after purchasing an additional 27,105 shares during the period. Arkadios Wealth Advisors lifted its stake in shares of BlackRock TCP Capital by 1.8% in the 4th quarter. Arkadios Wealth Advisors now owns 101,178 shares of the investment management company’s stock valued at $1,168,000 after purchasing an additional 1,772 shares during the period. Finally, Grimes & Company Inc. purchased a new position in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $165,000.

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.