BlackRock TCP Capital (NASDAQ:TCPC) Given New $8.50 Price Target at Wells Fargo & Company

BlackRock TCP Capital (NASDAQ:TCPC) had its target price reduced by Wells Fargo & Company from $10.00 to $8.50 in a research report released on Monday, Benzinga reports. They currently have an equal weight rating on the investment management company’s stock.

Several other equities research analysts have also weighed in on TCPC. StockNews.com lowered BlackRock TCP Capital from a hold rating to a sell rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a market perform rating on the stock in a report on Thursday, August 8th. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a buy rating to a neutral rating in a research note on Thursday, August 8th. Finally, Oppenheimer dropped their price target on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a market perform rating on the stock in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $9.17.

BlackRock TCP Capital Trading Up 0.9 %

BlackRock TCP Capital stock opened at $8.78 on Monday. BlackRock TCP Capital has a 1 year low of $8.68 and a 1 year high of $12.62. The firm’s 50-day moving average is $10.70 and its 200-day moving average is $10.65. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47. The company has a market cap of $751.48 million, a P/E ratio of 24.86 and a beta of 1.49.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter last year, the company posted $0.48 earnings per share. On average, equities analysts expect that BlackRock TCP Capital will post 1.68 earnings per share for the current year.

BlackRock TCP Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.34 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a yield of 15.49%. BlackRock TCP Capital’s dividend payout ratio is presently 388.58%.

Institutional Trading of BlackRock TCP Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Disciplined Investments LLC acquired a new position in shares of BlackRock TCP Capital during the second quarter valued at approximately $108,000. Barings LLC increased its position in shares of BlackRock TCP Capital by 3,878.9% during the 2nd quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after purchasing an additional 17,053,151 shares during the period. D.A. Davidson & CO. raised its stake in shares of BlackRock TCP Capital by 7.6% in the 2nd quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock worth $5,057,000 after buying an additional 33,147 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of BlackRock TCP Capital by 17.0% in the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after buying an additional 284,802 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in BlackRock TCP Capital by 171.4% during the second quarter. Commonwealth Equity Services LLC now owns 49,590 shares of the investment management company’s stock valued at $536,000 after buying an additional 31,321 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.