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

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

TCPC has been the subject of a number of other research reports. 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 research report on Friday, March 22nd. Raymond James cut BlackRock TCP Capital from an outperform rating to a market perform rating in a report on Friday, March 1st. Wells Fargo & Company lifted their price target on BlackRock TCP Capital from $11.00 to $11.50 and gave the company an equal weight rating in a report on Monday, January 29th. Finally, JMP Securities restated a market perform rating on shares of BlackRock TCP Capital 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, BlackRock TCP Capital currently has a consensus rating of Hold and a consensus target price of $11.00.

BlackRock TCP Capital Stock Performance

BlackRock TCP Capital stock opened at $10.28 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 30.47 and a current ratio of 19.05. BlackRock TCP Capital has a fifty-two week low of $9.80 and a fifty-two week high of $13.00. The stock has a fifty day moving average of $10.30 and a two-hundred day moving average of $11.05. The company has a market capitalization of $593.88 million, a price-to-earnings ratio of 29.37 and a beta of 1.42.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $55.73 million during 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 last year, the business posted $0.44 EPS. On average, analysts anticipate that BlackRock TCP Capital will post 1.71 EPS for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The business also recently declared 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. This represents a $1.36 dividend on an annualized basis and a yield of 13.23%. The ex-dividend date of this dividend is Friday, June 14th. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in BlackRock TCP Capital by 3.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,996 shares of the investment management company’s stock worth $376,000 after acquiring an additional 1,118 shares during the period. PNC Financial Services Group Inc. boosted its holdings in BlackRock TCP Capital by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock worth $432,000 after acquiring an additional 1,200 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in BlackRock TCP Capital by 2.7% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 54,010 shares of the investment management company’s stock worth $563,000 after acquiring an additional 1,429 shares during the period. Spire Wealth Management raised its position in shares of BlackRock TCP Capital by 15.6% in the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position 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 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.