Wells Fargo & Company Lowers BlackRock TCP Capital (NASDAQ:TCPC) Price Target to $7.50

BlackRock TCP Capital (NASDAQ:TCPC - Free Report) had its price objective trimmed by Wells Fargo & Company from $8.00 to $7.50 in a report issued on Friday,Benzinga reports. The brokerage currently has an underweight rating on the investment management company's stock.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating for the company in a research note on Friday. StockNews.com upgraded BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.67.

BlackRock TCP Capital Trading Down 3.1 %

Shares of TCPC traded down $0.27 on Friday, reaching $8.18. 962,643 shares of the company's stock were exchanged, compared to its average volume of 562,757. The business has a 50 day moving average price of $8.97 and a two-hundred day moving average price of $8.81. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $11.52. The stock has a market capitalization of $699.71 million, a P/E ratio of -16.35 and a beta of 1.50. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.23%. BlackRock TCP Capital's payout ratio is presently -133.33%.

Institutional Investors Weigh In On BlackRock TCP Capital

Several institutional investors have recently bought and sold shares of TCPC. Avior Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC increased 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 buying an additional 3,508 shares during the last quarter. McIlrath & Eck LLC bought a new stake in BlackRock TCP Capital during the 3rd quarter worth about $46,000. Transce3nd LLC acquired a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $70,000. Finally, Quantbot Technologies LP bought a new position in shares of BlackRock TCP Capital in the 3rd quarter valued at about $79,000.

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.