BlackRock TCP Capital Corp. (NASDAQ:TCPC) Plans $0.34 Quarterly Dividend

BlackRock TCP Capital Corp. (NASDAQ:TCPC) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.34 per share by the investment management company on Monday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 15.16%. The ex-dividend date of this dividend is Monday, September 16th.

BlackRock TCP Capital has raised its dividend by an average of 6.0% annually over the last three years. BlackRock TCP Capital has a dividend payout ratio of 91.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect BlackRock TCP Capital to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 86.6%.

BlackRock TCP Capital Stock Up 0.3 %

NASDAQ:TCPC opened at $8.97 on Friday. The firm has a market capitalization of $767.74 million, a PE ratio of 25.63 and a beta of 1.48. The stock has a 50 day moving average of $9.77 and a 200-day moving average of $10.29. BlackRock TCP Capital has a 52 week low of $8.59 and a 52 week high of $12.43. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.39 million. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. During the same period in the previous year, the firm posted $0.48 earnings per share. Analysts predict that BlackRock TCP Capital will post 1.68 EPS for the current year.

Insiders Place Their Bets

In other news, Director Philip M. Tseng bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the transaction, the director now directly owns 27,481 shares of the company’s stock, valued at approximately $250,077.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Philip M. Tseng acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the transaction, the director now owns 27,481 shares of the company’s stock, valued at $250,077.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Philip M. Tseng acquired 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $9.07 per share, with a total value of $45,350.00. Following the transaction, the director now directly owns 17,481 shares in the company, valued at approximately $158,552.67. The disclosure for this purchase can be found here. Insiders bought 42,000 shares of company stock worth $381,875 over the last ninety days. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

TCPC has been the subject of several analyst reports. Wells Fargo & Company downgraded BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $8.50 to $8.00 in a research report on Monday, August 26th. LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.00.

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.