TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Rating Lowered by Wells Fargo & Company

Wells Fargo & Company lowered shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from an equal weight rating to an underweight rating in a research note released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $6.50 price target on the investment management company’s stock, down from their previous price target of $7.50.

Several other brokerages have also recently weighed in on TPVG. Compass Point raised their target price on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Piper Sandler increased their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC currently has an average rating of “Hold” and an average target price of $7.60.

TriplePoint Venture Growth BDC Stock Down 4.1 %

Shares of TPVG stock opened at $7.08 on Monday. The stock has a 50-day simple moving average of $7.75 and a 200 day simple moving average of $7.50. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $9.73. The stock has a market capitalization of $283.97 million, a P/E ratio of 33.69 and a beta of 1.90.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The firm had revenue of $25.75 million for the quarter, compared to the consensus estimate of $26.68 million. On average, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.96%. The ex-dividend date of this dividend is Monday, March 17th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 146.34%.

Institutional Trading of TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the 4th quarter worth approximately $41,000. McIlrath & Eck LLC bought a new position in TriplePoint Venture Growth BDC in the 3rd quarter valued at $51,000. EverSource Wealth Advisors LLC raised its position in shares of TriplePoint Venture Growth BDC by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $74,000 after acquiring an additional 2,000 shares during the last quarter. Avenir Corp bought a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter worth $74,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of TriplePoint Venture Growth BDC during the third quarter worth $83,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

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.