TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Rating of “Hold” from Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $7.85.

TPVG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. Piper Sandler decreased their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company upped their price objective on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a research note on Tuesday, November 19th. StockNews.com raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price target for the stock from $8.50 to $8.00 in a research note on Friday, August 9th.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $35,000. McIlrath & Eck LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the third quarter worth $51,000. EverSource Wealth Advisors LLC bought a new stake in TriplePoint Venture Growth BDC during the second quarter valued at $62,000. Diversify Wealth Management LLC purchased a new position in TriplePoint Venture Growth BDC during the third quarter worth about $82,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in TriplePoint Venture Growth BDC in the 3rd quarter worth about $83,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Up 2.4 %

Shares of NYSE TPVG opened at $8.39 on Monday. The company has a market capitalization of $336.02 million, a PE ratio of 39.95 and a beta of 1.80. The stock’s 50 day moving average price is $7.20 and its 200-day moving average price is $7.90. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, research analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 14.30%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 571.46%.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.