Brokerages Set BlackRock TCP Capital Corp. (NASDAQ:TCPC) PT at $11.25

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have earned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $11.00.

A number of analysts recently weighed in on TCPC shares. Keefe, Bruyette & Woods dropped their price objective 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. Raymond James downgraded BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Oppenheimer decreased their price target on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the company an “equal weight” rating in a research note on Monday, January 29th.

Hedge Funds Weigh In On BlackRock TCP Capital

Several large investors have recently made changes to their positions in TCPC. Melia Wealth LLC acquired a new stake in BlackRock TCP Capital during the fourth quarter valued at approximately $12,577,000. Van ECK Associates Corp lifted its position in shares of BlackRock TCP Capital by 58.5% during the 1st quarter. Van ECK Associates Corp now owns 1,678,661 shares of the investment management company’s stock valued at $17,508,000 after acquiring an additional 619,519 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of BlackRock TCP Capital during the 1st quarter worth $4,172,000. International Assets Investment Management LLC grew its holdings in shares of BlackRock TCP Capital by 1,054.0% in the 4th quarter. International Assets Investment Management LLC now owns 411,978 shares of the investment management company’s stock worth $4,754,000 after acquiring an additional 376,278 shares during the last quarter. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of BlackRock TCP Capital during the first quarter worth $1,022,000.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $10.45 on Tuesday. The stock has a market capitalization of $603.70 million, a P/E ratio of 29.86 and a beta of 1.42. The firm’s 50-day moving average price is $10.29 and its two-hundred day moving average price is $11.05. BlackRock TCP Capital has a 52-week low of $9.90 and a 52-week high of $13.00. The company has a quick ratio of 19.05, a current ratio of 19.05 and a debt-to-equity ratio of 1.37.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $55.73 million during the quarter, compared to analyst estimates of $50.99 million. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, sell-side analysts forecast that BlackRock TCP Capital will post 1.71 earnings per share for the current year.

BlackRock TCP Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 13.01%. The ex-dividend date is Friday, June 14th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 388.58%.

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.