BlackRock TCP Capital Corp. (NASDAQ:TCPC) has received a consensus rating of “Moderate Buy” from the five analysts currently covering the stock, according to Bloomberg.com. Among these analysts, two have given a hold rating and three have provided a buy rating for the company. Over the past year, brokers who have analyzed TCPC have set an average twelve-month price objective of $12.20.
Institutional investors and hedge funds have recently made adjustments to their positions in BlackRock TCP Capital. Advisory Research Inc. increased its stake in the investment management company by 1.3% during the third quarter, acquiring an additional 757 shares and boosting its ownership to 57,693 shares worth around $631,000. Similarly, Envestnet Asset Management Inc., seeing potential in TCPC’s performance, grew its position by 3.4% during the first quarter, adding an extra 810 shares to reach a total of 24,316 shares valued at $348,000.
Rockefeller Capital Management L.P., another institutional investor, increased its position in BlackRock TCP Capital by 1.1% during the fourth quarter. The firm acquired an additional 1,010 shares, raising their total holdings to 89,963 shares valued at approximately $1,164,000. Mariner LLC also saw promise in TCPC’s future growth and expanded its position by 6.4% during the same period purchasing an additional 1,469 shares which brought their stake to 24,454 shares worth about $316,000.
Grimes & Company Inc., seeking opportunities for diversification within its portfolio increased its position in BlackRock TCP Capital by 12.1% during the second quarter – buying an additional 1,545 shares which amounted to ownership of 14,276 shares valued at around $156,000.
BlackRock TCP Capital recently announced a quarterly dividend, to be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will receive a dividend of $0.44 per share. This amounts to an annualized dividend of $1.76 and represents a significant increase from the company’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 14th.
BlackRock TCP Capital’s payout ratio currently stands at an astounding 468.97%.
These developments indicate that BlackRock TCP Capital continues to attract attention from analysts and investors alike, as it demonstrates positive performance and growth potential in its sector. Investors are optimistic about the company’s future prospects, evidenced by their increased stake in the organization and their positive rating of TCPC’s stock.
BlackRock TCP Capital Corp. Receives Positive Ratings and Beats Earnings Expectations in Q2
BlackRock TCP Capital Corp. (NASDAQ: TCPC) has recently garnered attention from research reports, with an upgraded rating and coverage initiation. TheStreet raised the company’s rating from a “c” to a “b-” on May 26th, while StockNews.com initiated coverage with a “hold” rating on August 17th.
Shares of TCPC began trading at $12.15 on Monday, demonstrating a 1-year low of $9.60 and a high of $13.65. With a market capitalization of $701.91 million, the stock carries a price-to-earnings ratio of 41.90 and a beta of 1.39. Additionally, the company maintains a debt-to-equity ratio of 1.37, alongside current and quick ratios of 61.46.
On August 3rd, BlackRock TCP Capital announced its quarterly earnings results, surpassing analysts’ expectations by reporting earnings per share (EPS) of $0.48 for the quarter, compared to consensus estimates of $0.43 EPS exhibiting an impressive beat by $0.05 per share. Notably, the firm achieved a net margin of 8.75% and a return on equity (ROE) of 13.11%. Furthermore, during this period, BlackRock TCP Capital generated revenue amounting to $53.96 million outperforming analysts’ projections by approximately $2.79 million.
For the remainder of the year, sell-side analysts predict that BlackRock TCP Capital will achieve an EPS of 1.84 outlining positive expectations for forthcoming performance.
It is worth noting that these developments have brought about both interest and uncertainty within the investment community as observers evaluate whether BlackRock TCP Capital can maintain this level of success in future endeavors.
As TCPC continues to navigate through market fluctuations and adapt to ever-changing conditions globally, investors remain attentive to ongoing developments and further research reports that will shed light on the company’s future prospects.