Piper Sandler Issues Positive Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target raised by Piper Sandler from $7.50 to $8.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the investment management company’s stock.

Several other equities analysts also recently issued reports on the stock. 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. Wells Fargo & Company raised 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. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price target for the company from $8.00 to $7.50 in a research report on Thursday, November 7th. Finally, Compass Point raised their price objective on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.80.

TriplePoint Venture Growth BDC Stock Down 5.3 %

Shares of TPVG stock opened at $7.34 on Thursday. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $10.09. The stock’s fifty day simple moving average is $7.77 and its 200 day simple moving average is $7.51. The firm has a market capitalization of $293.96 million, a P/E ratio of 34.95 and a beta of 1.88.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly 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). The firm had revenue of $25.75 million for the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. As a group, equities research analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.35%. The ex-dividend date of this dividend is Monday, March 17th. TriplePoint Venture Growth BDC’s dividend payout ratio is 571.43%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently added to or reduced their stakes in TPVG. Summit Securities Group LLC bought a new position 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 during the third quarter worth $51,000. EverSource Wealth Advisors LLC grew its holdings in 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. Avenir Corp bought a new stake in TriplePoint Venture Growth BDC in the fourth quarter valued at $74,000. Finally, PharVision Advisers LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at about $84,000. 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.