TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $7.70 Consensus Target Price from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have earned a consensus rating of “Hold” from the five research firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.80.

TPVG has been the topic of several research analyst reports. Compass Point upped their price objective 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. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Wells Fargo & Company increased their target price on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler increased their target price on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th.

TriplePoint Venture Growth BDC Stock Up 1.6 %

TPVG stock opened at $7.39 on Thursday. The firm has a market cap of $296.49 million, a PE ratio of 35.18 and a beta of 1.90. The business has a 50 day moving average of $7.77 and a 200-day moving average of $7.50. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 EPS 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 during the quarter, compared to analysts’ expectations of $26.68 million. On average, research analysts expect 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 issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.20 annualized dividend and a dividend yield of 16.24%. TriplePoint Venture Growth BDC’s payout ratio is currently 146.34%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $74,000 after purchasing an additional 2,000 shares during the period. Kovack Advisors Inc. increased its stake in TriplePoint Venture Growth BDC by 7.8% in the third quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock valued at $262,000 after acquiring an additional 2,700 shares during the last quarter. Legal & General Group Plc increased its stake in TriplePoint Venture Growth BDC by 1.3% in the fourth quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock valued at $1,951,000 after acquiring an additional 3,418 shares during the last quarter. Summit Securities Group LLC bought a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at $41,000. Finally, Diversify Wealth Management LLC increased its stake in TriplePoint Venture Growth BDC by 53.4% in the fourth quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock valued at $142,000 after acquiring an additional 6,553 shares during the last quarter. Institutional investors own 12.77% of the company’s stock.

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.