BlackRock TCP Capital Corp. (NASDAQ:TCPC) to Issue Quarterly Dividend of $0.44

BlackRock TCP Capital Corp. (NASDAQ:TCPC - Get Free Report) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Tuesday, December 17th will be given a dividend of 0.44 per share by the investment management company on Tuesday, December 31st. This represents a $1.76 annualized dividend and a yield of 20.21%. The ex-dividend date is Tuesday, December 17th. This is a boost from BlackRock TCP Capital's previous quarterly dividend of $0.34.

BlackRock TCP Capital has increased its dividend by an average of 6.0% per year over the last three years. BlackRock TCP Capital has a dividend payout ratio of 95.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect BlackRock TCP Capital to earn $1.48 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 91.9%.

BlackRock TCP Capital Stock Up 1.9 %

NASDAQ TCPC traded up $0.16 during trading on Thursday, hitting $8.71. 1,090,441 shares of the company traded hands, compared to its average volume of 500,794. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $12.43. The business has a fifty day simple moving average of $8.44 and a 200 day simple moving average of $9.74. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $745.49 million, a P/E ratio of -16.57 and a beta of 1.47.

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $71.53 million for 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 last year, the business posted $0.48 earnings per share. As a group, sell-side analysts predict that BlackRock TCP Capital will post 1.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TCPC. Wells Fargo & Company raised their price target on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an "underweight" rating in a research report on Thursday. StockNews.com downgraded BlackRock TCP Capital from a "hold" rating to a "sell" rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a "market perform" rating on the stock in a research report on Thursday, August 8th. Finally, LADENBURG THALM/SH SH downgraded BlackRock TCP Capital from a "buy" rating to a "neutral" rating in a research report on Thursday, August 8th. Two investment 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, BlackRock TCP Capital currently has an average rating of "Hold" and an average target price of $9.00.

Insider Buying and Selling

In related news, Director Philip M. Tseng acquired 10,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $9.10 per share, with a total value of $91,000.00. Following the completion of the acquisition, the director now owns 27,481 shares of the company's stock, valued at $250,077.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Philip M. Tseng acquired 5,000 shares of the firm's stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $9.07 per share, with a total value of $45,350.00. Following the completion of the acquisition, the director now owns 17,481 shares of the company's stock, valued at $158,552.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Philip M. Tseng bought 10,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $9.10 per share, with a total value of $91,000.00. Following the purchase, the director now directly owns 27,481 shares of the company's stock, valued at $250,077.10. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 42,000 shares of company stock valued at $381,875 over the last three months. 0.16% of the stock is owned by corporate insiders.

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.