TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Raised to $7.50

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target raised by Wells Fargo & Company from $6.50 to $7.50 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the investment management company’s stock.

Several other equities analysts also recently issued reports on the stock. Piper Sandler reduced their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $8.50 to $8.00 in a research note on Friday, August 9th. Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $7.50 in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.85.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $7.99 on Tuesday. The company has a market capitalization of $320.00 million, a price-to-earnings ratio of 37.95 and a beta of 1.80. The company’s 50 day simple moving average is $7.04 and its 200 day simple moving average is $7.97. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year 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 the consensus estimate of $0.34 by $0.01. The business had revenue of $26.52 million for the quarter, compared to the consensus estimate of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Equities analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 15.02%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is currently 571.46%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of large investors have recently added to or reduced their stakes in TPVG. Quarry LP acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at $35,000. McIlrath & Eck LLC acquired a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at $51,000. EverSource Wealth Advisors LLC acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at $62,000. Diversify Wealth Management LLC acquired a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at $82,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at $83,000. 12.77% of the stock is owned by institutional investors and hedge funds.

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.