BlackRock TCP Capital (NASDAQ:TCPC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) in a research note released on Thursday morning. The firm issued a hold rating on the investment management company’s stock.

Other equities research analysts also recently issued reports about the company. JMP Securities decreased their price objective on BlackRock TCP Capital from $14.50 to $13.00 and set a market outperform rating on the stock in a report on Thursday, March 2nd. Oppenheimer decreased their price objective on BlackRock TCP Capital from $14.00 to $13.00 and set an outperform rating on the stock in a report on Wednesday, March 1st. Raymond James decreased their price objective on BlackRock TCP Capital from $14.00 to $13.00 and set an outperform rating on the stock in a report on Wednesday, March 1st. Keefe, Bruyette & Woods decreased their price objective on BlackRock TCP Capital from $13.50 to $12.00 and set a market perform rating on the stock in a report on Wednesday, March 1st. Finally, Wells Fargo & Company decreased their price objective on BlackRock TCP Capital from $12.50 to $11.00 and set an equal weight rating on the stock in a report on Wednesday, March 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $12.40.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $9.87 on Thursday. BlackRock TCP Capital has a 12-month low of $9.69 and a 12-month high of $14.52. The company has a debt-to-equity ratio of 1.26, a quick ratio of 18.88 and a current ratio of 18.88. The stock’s 50-day moving average price is $12.49 and its 200 day moving average price is $12.52.

BlackRock TCP Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 12.97%. The ex-dividend date of this dividend is Thursday, March 16th. BlackRock TCP Capital’s payout ratio is currently -800.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TCPC. Envestnet Asset Management Inc. boosted its holdings in shares of BlackRock TCP Capital by 3.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 24,316 shares of the investment management company’s stock worth $348,000 after acquiring an additional 810 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in BlackRock TCP Capital by 20.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 72,417 shares of the investment management company’s stock worth $1,036,000 after purchasing an additional 12,147 shares during the last quarter. Cetera Advisor Networks LLC raised its position in BlackRock TCP Capital by 12.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 15,924 shares of the investment management company’s stock worth $228,000 after purchasing an additional 1,807 shares during the last quarter. Great West Life Assurance Co. Can raised its position in BlackRock TCP Capital by 11.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 20,516 shares of the investment management company’s stock worth $312,000 after purchasing an additional 2,073 shares during the last quarter. Finally, Dakota Wealth Management bought a new position in BlackRock TCP Capital in the 1st quarter worth approximately $215,000.

BlackRock TCP Capital Company Profile

(Get Rating)

TCP Capital Corp. is an externally-managed specialty finance company focused on middle-market lending. We have elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. Our stock is traded on NASDAQ under the ticker symbol ”TCPC”. TCP Capital’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection.