BlackRock TCP Capital (NASDAQ:TCPC) Upgraded at StockNews.com

StockNews.com upgraded shares of BlackRock TCP Capital (NASDAQ:TCPC) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other research firms also recently commented on TCPC. JMP Securities reissued a market perform rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Keefe, Bruyette & Woods reduced 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 note on Friday, March 22nd. Oppenheimer reduced their price objective 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, Raymond James downgraded BlackRock TCP Capital from an outperform rating to a market perform rating in a research note on Friday, March 1st. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $10.67.

BlackRock TCP Capital Trading Up 2.5 %

Shares of TCPC stock opened at $10.84 on Tuesday. 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 company has a market cap of $927.80 million, a price-to-earnings ratio of 30.97 and a beta of 1.47. The stock has a 50 day simple moving average of $10.72 and a 200-day simple moving average of $10.93. BlackRock TCP Capital has a 1-year low of $9.90 and a 1-year high of $13.00.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share for the quarter, hitting 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 business had revenue of $55.73 million during the quarter, compared to the consensus estimate of $50.99 million. During the same period in the prior year, the company posted $0.44 EPS. On average, equities research analysts expect that BlackRock TCP Capital will post 1.71 EPS for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.55%. The ex-dividend date is Friday, June 14th. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Hedge Funds Weigh In On BlackRock TCP Capital

Hedge funds have recently modified their holdings of the business. Spire Wealth Management grew its holdings in shares of BlackRock TCP Capital by 15.6% during the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock worth $149,000 after purchasing an additional 1,730 shares during the period. Confluence Investment Management LLC purchased a new position in shares of BlackRock TCP Capital during the 1st quarter worth $4,172,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of BlackRock TCP Capital by 16.8% during the 4th 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 during the period. Raymond James & Associates grew its holdings in shares of BlackRock TCP Capital by 21.5% during the 4th quarter. Raymond James & Associates now owns 292,417 shares of the investment management company’s stock worth $3,374,000 after purchasing an additional 51,766 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of BlackRock TCP Capital by 1,710.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 36,218 shares of the investment management company’s stock worth $425,000 after purchasing an additional 34,218 shares during the period.

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.