Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Price Target at $12.80

TriplePoint Venture Growth BDC Corp. (NYSE:TPVGGet Rating) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $12.80.

A number of research firms have recently issued reports on TPVG. Wells Fargo & Company reduced their price target on shares of TriplePoint Venture Growth BDC from $14.50 to $13.50 and set an “overweight” rating on the stock in a research note on Monday, October 24th. Piper Sandler lowered their target price on shares of TriplePoint Venture Growth BDC from $13.50 to $12.00 in a report on Friday, December 16th. Keefe, Bruyette & Woods cut shares of TriplePoint Venture Growth BDC from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $13.00 to $10.00 in a report on Tuesday, December 20th. StockNews.com started coverage on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Finally, UBS Group initiated coverage on shares of TriplePoint Venture Growth BDC in a research report on Thursday, December 1st. They set a “neutral” rating and a $13.50 price objective for the company.

TriplePoint Venture Growth BDC Trading Up 0.4 %

NYSE TPVG opened at $11.82 on Friday. The company has a fifty day simple moving average of $11.84 and a two-hundred day simple moving average of $12.41. TriplePoint Venture Growth BDC has a 12-month low of $10.27 and a 12-month high of $17.98. The stock has a market cap of $417.03 million, a P/E ratio of 65.67 and a beta of 1.71.

TriplePoint Venture Growth BDC (NYSE:TPVGGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The investment management company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.10. TriplePoint Venture Growth BDC had a net margin of 5.12% and a return on equity of 13.05%. The company had revenue of $29.70 million during the quarter, compared to analysts’ expectations of $28.79 million. As a group, sell-side analysts forecast that TriplePoint Venture Growth BDC will post 1.8 earnings per share for the current year.

TriplePoint Venture Growth BDC Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 22nd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 12.52%. The ex-dividend date was Wednesday, December 21st. This is an increase from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.36. TriplePoint Venture Growth BDC’s payout ratio is currently 822.27%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently bought and sold shares of TPVG. GraniteShares Advisors LLC grew its stake in TriplePoint Venture Growth BDC by 3.0% during the 2nd quarter. GraniteShares Advisors LLC now owns 45,094 shares of the investment management company’s stock valued at $574,000 after acquiring an additional 1,301 shares in the last quarter. Virtus ETF Advisers LLC raised its stake in TriplePoint Venture Growth BDC by 24.7% during the second quarter. Virtus ETF Advisers LLC now owns 44,839 shares of the investment management company’s stock worth $571,000 after acquiring an additional 8,894 shares in the last quarter. Van ECK Associates Corp boosted its holdings in TriplePoint Venture Growth BDC by 3.1% in the third quarter. Van ECK Associates Corp now owns 432,614 shares of the investment management company’s stock valued at $4,698,000 after acquiring an additional 12,951 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in TriplePoint Venture Growth BDC by 26.5% in the third quarter. Confluence Investment Management LLC now owns 139,589 shares of the investment management company’s stock valued at $1,516,000 after acquiring an additional 29,258 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of TriplePoint Venture Growth BDC during the second quarter worth about $286,000. 20.93% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Company Profile

(Get Rating)

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.

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Analyst Recommendations for TriplePoint Venture Growth BDC (NYSE:TPVG)

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