TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company's investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds. Its investments may include an equity component and may make equity investments directly. It intends to focus on privately negotiated investments in debt of middle-market companies. It may make investments of all kinds and at all levels of the capital structure, including in equity interests, such as preferred or common stock and warrants or options received in connection with its debt investments. As of December 31, 2016, its investment portfolio consisted of 90 portfolio companies. Tennenbaum Capital Partners, LLC is the investment manager and advisor of the Company.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Closed End Funds
- Sub-Industry: Asset Management & Custody Banks
- Symbol: NASDAQ:TCPC
- CUSIP: 87238Q10
- Web: www.tcpcapital.com
- 50 Day Moving Avg: $16.79
- 200 Day Moving Avg: $16.96
- 52 Week Range: $15.33 - $17.47
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 10.53
- P/E Growth: 2.70
- Annual Dividend: $1.44
- Dividend Yield: 8.4%
- Net Margins: 58.13%
- Return on Equity: 12.48%
- Return on Assets: 7.00%
- Debt-to-Equity Ratio: 0.77%
- Current Ratio: 14.79%
- Quick Ratio: 14.79%
- Average Volume: 204,937 shs.
- Beta: 0.77
Frequently Asked Questions for TCP Capital Corp. (NASDAQ:TCPC)
What is TCP Capital Corp.'s stock symbol?
TCP Capital Corp. trades on the NASDAQ under the ticker symbol "TCPC."
How often does TCP Capital Corp. pay dividends? What is the dividend yield for TCP Capital Corp.?
TCP Capital Corp. declared a quarterly dividend on Thursday, May 11th. Stockholders of record on Friday, June 16th will be given a dividend of $0.36 per share on Friday, June 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date of this dividend is Wednesday, June 14th. View TCP Capital Corp.'s Dividend History.
How will TCP Capital Corp.'s stock buyback program work?
TCP Capital Corp. declared that its Board of Directors has approved a stock repurchase plan on Monday, April 10th 2017, which authorizes the company to buyback $50,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.
How were TCP Capital Corp.'s earnings last quarter?
TCP Capital Corp. (NASDAQ:TCPC) released its quarterly earnings data on Tuesday, May, 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.38 by $0.09. The company had revenue of $39.34 million for the quarter, compared to analyst estimates of $38.75 million. TCP Capital Corp. had a net margin of 58.13% and a return on equity of 12.48%. View TCP Capital Corp.'s Earnings History.
When will TCP Capital Corp. make its next earnings announcement?
Where is TCP Capital Corp.'s stock going? Where will TCP Capital Corp.'s stock price be in 2017?
7 equities research analysts have issued 12-month target prices for TCP Capital Corp.'s stock. Their predictions range from $15.00 to $18.00. On average, they anticipate TCP Capital Corp.'s share price to reach $17.29 in the next year. View Analyst Ratings for TCP Capital Corp..
What are analysts saying about TCP Capital Corp. stock?
Here are some recent quotes from research analysts about TCP Capital Corp. stock:
- 1. According to Zacks Investment Research, "TCP Capital Corp. is an externally managed specialty finance company focused on middle-market lending. The Company's investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCP Capital Corp. is based in Santa Monica, CA. " (7/13/2017)
- 2. National Securities analysts commented, "• TCP had a strong quarter with the portfolio at fair value growing to $1.34 billion from $1.31 billion Q/Q, driving NII/share of $0.38 which matched consensus but fell a penny short of our own estimate. We had modeled more prepayment fees for the quarter which didn’t materialize.
• The 2Q17 equity offering, which we expect will generate net proceeds of $93.6 million, should serve to deleverage the balance sheet and lower D/E to 0.60x from 0.78x Q/Q. This should enable strong portfolio growth through the remainder of 2017 without the need to issue additional equity and as a result we expect modest incremental improvements in NII/share through 2H17.
• Asset quality remains very strong at TCP with non-accruals at 0.4% of the portfolio at fair value, in-line with the prior quarter. As a result of continued sound credit quality coupled with sound capital management, TCP’s NAV/share increased by a penny Q/Q to $14.92 and we expect the highly accretive 2Q17 equity issuance to bolster NAV/share to $15.06 as of 6/30/17.
• We are revising our 2017 NII/share estimate to $1.56 from $1.54 and are maintaining our 2018 NII/share estimate of $1.61." (5/11/2017)
Who are some of TCP Capital Corp.'s key competitors?
Some companies that are related to TCP Capital Corp. include 3i Infrastructure PLC (3IN), Hercules Capital (HTGC), Triangle Capital Corporation (TCAP), Ithaca Energy (IAE), Foresight Solar Fund Ltd (FSFL), TICC Capital Corp. (TICC), KCAP Financial (KCAP), GLI Finance Ltd (GLIF), Andalas Energy and Power PLC (ADL), Alcentra Capital Corp. (ABDC), American Capital Senior Floating (ACSF), Andalas Energy and Power PLC (CEB), Apollo Investment Corporation (AINV), Ares Capital Corporation (ARCC), BlackRock Capital Investment Corporation (BKCC), BlackRock Enhanced Global Dividend Trust (BOE), BlackRock LT Municipal Advantage Trust (BTA) and Blackrock Taxable Municipal Bond Trust (BBN).
Who are TCP Capital Corp.'s key executives?
TCP Capital Corp.'s management team includes the folowing people:
- Howard M. Levkowitz J.D., Chairman of the Board, Chief Executive Officer
- Rajneesh Vig, President, Chief Operating Officer, Director
- Paul L. Davis, Chief Financial Officer
- Elizabeth Greenwood, Chief Compliance Officer, Secretary
- Todd M. Jaquez-Fissori, Managing Director
- Kathleen A. Corbet, Independent Director
- Eric J. Draut, Independent Director
- Franklin R. Johnson, Independent Director
- M. Freddie Reiss, Independent Director
- Peter E. Schwab, Independent Director
Who owns TCP Capital Corp. stock?
TCP Capital Corp.'s stock is owned by a variety of of institutional and retail investors. Top institutional investors include Vaughan Nelson Investment Management L.P. (0.00%), Confluence Investment Management LLC (0.00%), Sumitomo Mitsui Asset Management Company LTD (0.00%), Advisors Capital Management LLC (0.00%), P.A.W. Capital Corp (0.00%) and Bank of Montreal Can (0.00%). Company insiders that own TCP Capital Corp. stock include Brian F Wruble, Eric John Draut, Howard Levkowitz, Kathleen A Corbet, Paul L Davis, Peter E Schwab and Rajneesh Vig. View Institutional Ownership Trends for TCP Capital Corp..
Who bought TCP Capital Corp. stock? Who is buying TCP Capital Corp. stock?
TCP Capital Corp.'s stock was purchased by a variety of institutional investors in the last quarter, including Vaughan Nelson Investment Management L.P., Bank of Montreal Can, Advisors Capital Management LLC, Confluence Investment Management LLC and Sumitomo Mitsui Asset Management Company LTD. Company insiders that have bought TCP Capital Corp. stock in the last two years include Brian F Wruble, Eric John Draut, Howard Levkowitz, Kathleen A Corbet, Paul L Davis, Peter E Schwab and Rajneesh Vig. View Insider Buying and Selling for TCP Capital Corp..
How do I buy TCP Capital Corp. stock?
Shares of TCP Capital Corp. can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is TCP Capital Corp.'s stock price today?
MarketBeat Community Rating for TCP Capital Corp. (NASDAQ TCPC)MarketBeat's community ratings are surveys of what our community members think about TCP Capital Corp. and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of TCP Capital Corp. stock can currently be purchased for approximately $16.63.
Consensus Ratings for TCP Capital Corp. (NASDAQ:TCPC) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||2 Hold Ratings, 5 Buy Ratings|
|Consensus Rating:||Buy (Score: 2.71)|
|Consensus Price Target: ||$17.29 (3.94% upside)|
Analysts' Ratings History for TCP Capital Corp. (NASDAQ:TCPC)
(Data available from 7/26/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|7/25/2017||Keefe, Bruyette & Woods||Reiterated Rating||Buy||$18.00||Low|
|5/11/2017||National Securities||Reiterated Rating||Neutral||$17.00||Low|
|5/11/2017||Deutsche Bank AG||Upgrade||Hold -> Buy||$18.00||Medium|
|1/20/2017||FBR & Co||Boost Price Target||$18.00||N/A|
|11/11/2016||JMP Securities||Reiterated Rating||Buy||N/A|
|9/22/2016||DA Davidson||Reiterated Rating||Buy||$18.00||N/A|
|8/17/2016||Citigroup Inc.||Boost Price Target||Neutral||$14.00 -> $15.00||N/A|
|3/1/2016||Wunderlich||Lower Price Target||Hold||$16.00 -> $15.00||N/A|
|3/1/2016||Oppenheimer Holdings, Inc.||Reiterated Rating||Outperform||$16.00||N/A|
|3/1/2016||Cantor Fitzgerald||Reiterated Rating||Buy||$16.00||N/A|
Earnings History for TCP Capital Corp. (NASDAQ:TCPC)Earnings History by Quarter for TCP Capital Corp. (NASDAQ TCPC)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|5/9/2017||Q1 2017||$0.38||$0.47||$38.75 million||$39.34 million||View||Listen|
|11/8/2016||Q316||$0.38||$0.39||$36.42 million||$38.47 million||View||Listen|
|8/9/2016||Q216||$0.39||$0.38||$35.22 million||$35.60 million||View||N/A|
|5/10/2016||Q116||$0.39||$0.38||$35.38 million||$34.59 million||View||Listen|
|2/29/2016||Q415||$0.40||$0.43||$36.23 million||$39.62 million||View||Listen|
|11/5/2015||Q315||$0.39||$0.40||$35.75 million||$35.50 million||View||Listen|
|8/6/2015||Q215||$0.40||$0.44||$34.59 million||$38.94 million||View||Listen|
|5/7/2015||Q115||$0.38||$0.47||$32.87 million||$32.82 million||View||N/A|
|3/10/2015||Q414||$0.39||$0.40||$30.47 million||$32.14 million||View||Listen|
|11/6/2014||Q214||$0.38||$0.38||$26.42 million||$27.19 million||View||Listen|
|8/7/2014||Q2||$0.38||$0.40||$23.19 million||$24.59 million||View||N/A|
|5/8/2014||Q114||$0.37||$0.39||$22.28 million||$22.67 million||View||N/A|
|8/8/2013||Q2 2013||$0.41||$0.38||$15.49 million||View||N/A|
|5/9/2013||Q1 2013||$0.39||$0.49||$14.67 million||View||N/A|
|3/7/2013||Q4 2012||$0.46||$0.51||$12.81 million||View||N/A|
Earnings Estimates for TCP Capital Corp. (NASDAQ:TCPC)
2017 EPS Consensus Estimate: $1.56
2018 EPS Consensus Estimate: $1.58
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for TCP Capital Corp. (NASDAQ:TCPC)
|Most Recent Dividend:||6/30/2017|
|Payout Ratio:||88.34% (Trailing 12 Months of Earnings) |
94.12% (Based on This Year's Estimates)
91.14% (Based on Next Year's Estimates)
Dividend History by Quarter for TCP Capital Corp. (NASDAQ TCPC)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for TCP Capital Corp. (NASDAQ:TCPC)
Insider Ownership Percentage: 0.56%Insider Trades by Quarter for TCP Capital Corp. (NASDAQ:TCPC)
Institutional Ownership Percentage: 50.94%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|6/23/2017||Brian F Wruble||Director||Buy||10,000||$16.63||$166,300.00|| |
|4/20/2017||Kathleen A Corbet||Director||Buy||3,500||$16.54||$57,890.00|| |
|5/27/2016||Paul L Davis||CFO||Buy||500||$14.48||$7,240.00|| |
|5/20/2016||Howard Levkowitz||CEO||Buy||5,000||$14.54||$72,700.00|| |
|1/22/2016||Brian F Wruble||Director||Buy||3,000||$12.86||$38,580.00|| |
|1/22/2016||Howard Levkowitz||CEO||Buy||5,000||$12.87||$64,350.00|| |
|1/22/2016||Rajneesh Vig||COO||Buy||4,000||$12.96||$51,840.00|| |
|12/18/2015||Howard Levkowitz||CEO||Buy||3,000||$14.00||$42,000.00|| |
|12/18/2015||Peter E. Schwab||Director||Buy||3,500||$14.07||$49,245.00|| |
|12/11/2015||Eric John Draut||Director||Buy||1,000||$14.42||$14,420.00|| |
|11/16/2015||Howard Levkowitz||CEO||Buy||5,000||$15.25||$76,250.00|| |
|11/11/2015||Brian F Wruble||Director||Buy||6,000||$15.14||$90,840.00|| |
|9/28/2015||Paul L Davis||CFO||Buy||1,000||$14.24||$14,240.00|| |
|9/14/2015||Rajneesh Vig||COO||Buy||3,750||$14.90||$55,875.00|| |
|6/26/2015||Howard Levkowitz||CEO||Buy||5,000||$15.38||$76,900.00|| |
|10/15/2014||Elizabeth Greenwood||Insider||Buy||1,000||$15.21||$15,210.00|| |
|10/15/2014||Peter E Schwab||Director||Buy||5,000||$15.41||$77,050.00|| |
|10/15/2014||Rajneesh Vig||COO||Buy||3,000||$15.19||$45,570.00|| |
|10/10/2014||Mark Holdsworth||Insider||Buy||5,000||$15.81||$79,050.00|| |
|5/14/2014||Mark Holdsworth||Insider||Buy||10,000||$15.86||$158,600.00|| |
|5/13/2014||Todd Jaquez-Fissori||Director||Buy||1,200||$15.81||$18,972.00|| |
|5/12/2014||Howard Levkowitz||CEO||Buy||5,000||$15.90||$79,500.00|| |
|8/19/2013||Eric John Draut||Director||Buy||1,000||$15.05||$15,050.00|| |
|8/16/2013||Franklin Johnson||Director||Buy||3,280||$15.23||$49,954.40|| |
|8/13/2013||Howard Levkowitz||CEO||Buy||10,000||$15.28||$152,800.00|| |
|6/5/2013||Franklin Johnson||Director||Buy||3,193||$15.70||$50,130.10|| |
|12/17/2012||Howard Levkowitz||CEO||Buy||2,300||$14.72||$33,856.00|| |
|12/12/2012||Mark Holdsworth||Insider||Buy||10,000||$14.82||$148,200.00|| |
|11/28/2012||Rajneesh Vig||President||Buy||10,000||$14.99||$149,900.00|| |
Headline Trends for TCP Capital Corp. (NASDAQ:TCPC)
Latest Headlines for TCP Capital Corp. (NASDAQ:TCPC)
TCP Capital Corp. (TCPC) Chart for Wednesday, July, 26, 2017