BLACKROCK TCP CAPITAL (NASDAQ:TCPC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of BLACKROCK TCP CAPITAL (NASDAQ:TCPC - Free Report) from a hold rating to a buy rating in a research note published on Friday morning.

TCPC has been the topic of a number of other reports. Wells Fargo & Company lowered their target price on BLACKROCK TCP CAPITAL from $7.50 to $6.50 and set an "underweight" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price on BLACKROCK TCP CAPITAL from $8.50 to $7.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th.

BLACKROCK TCP CAPITAL Stock Up 0.8%

NASDAQ:TCPC traded up $0.06 during trading hours on Friday, hitting $7.70. 698,152 shares of the company traded hands, compared to its average volume of 596,454. The company has a quick ratio of 34.00, a current ratio of 34.00 and a debt-to-equity ratio of 1.41. The firm's 50-day simple moving average is $7.44 and its 200-day simple moving average is $8.06. BLACKROCK TCP CAPITAL has a one year low of $6.27 and a one year high of $11.06. The company has a market cap of $654.81 million, a PE ratio of -13.28 and a beta of 1.03.

BLACKROCK TCP CAPITAL (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. BLACKROCK TCP CAPITAL had a positive return on equity of 15.51% and a negative net margin of 18.22%. The business had revenue of $55.89 million for the quarter, compared to analysts' expectations of $57.95 million. Equities analysts predict that BLACKROCK TCP CAPITAL will post 1.65 earnings per share for the current year.

BLACKROCK TCP CAPITAL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.99%. The ex-dividend date of this dividend is Monday, June 16th. BLACKROCK TCP CAPITAL's payout ratio is -172.41%.

Institutional Investors Weigh In On BLACKROCK TCP CAPITAL

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in BLACKROCK TCP CAPITAL by 177.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company's stock valued at $48,000 after acquiring an additional 3,508 shares during the period. Transce3nd LLC bought a new stake in BLACKROCK TCP CAPITAL in the 4th quarter valued at about $70,000. VSM Wealth Advisory LLC bought a new stake in BLACKROCK TCP CAPITAL in the 4th quarter valued at about $84,000. Kingswood Wealth Advisors LLC bought a new stake in BLACKROCK TCP CAPITAL in the 1st quarter valued at about $81,000. Finally, PNC Financial Services Group Inc. raised its stake in BLACKROCK TCP CAPITAL by 27.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,200 shares of the investment management company's stock valued at $82,000 after acquiring an additional 2,200 shares during the period.

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.