TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.79 Average Price Target from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have earned an average rating of "Reduce" from the six research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.79.

TPVG has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating for the company in a research note on Monday, April 28th. Compass Point lowered their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. Piper Sandler reduced their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. UBS Group reduced their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th.

TriplePoint Venture Growth BDC Stock Down 1.7%

TriplePoint Venture Growth BDC stock traded down $0.12 during mid-day trading on Wednesday, hitting $7.14. 291,569 shares of the stock were exchanged, compared to its average volume of 361,100. TriplePoint Venture Growth BDC has a 12 month low of $5.53 and a 12 month high of $9.17. The firm's fifty day simple moving average is $6.85 and its two-hundred day simple moving average is $7.08. The stock has a market capitalization of $287.24 million, a price-to-earnings ratio of 7.68 and a beta of 1.46.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $22.45 million during the quarter, compared to the consensus estimate of $24.90 million. TriplePoint Venture Growth BDC had a net margin of 36.10% and a return on equity of 14.12%. As a group, analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 16.81%. The ex-dividend date was Monday, June 16th. TriplePoint Venture Growth BDC's dividend payout ratio is currently 129.03%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP increased its position in shares of TriplePoint Venture Growth BDC by 53.6% in the first quarter. Quarry LP now owns 4,669 shares of the investment management company's stock worth $33,000 after purchasing an additional 1,629 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of TriplePoint Venture Growth BDC in the fourth quarter worth approximately $41,000. Private Advisor Group LLC bought a new position in shares of TriplePoint Venture Growth BDC in the first quarter worth approximately $72,000. HighTower Advisors LLC bought a new position in shares of TriplePoint Venture Growth BDC in the first quarter worth approximately $72,000. Finally, EverSource Wealth Advisors LLC increased its position 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 last quarter. 12.77% of the stock is currently owned by institutional investors.

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.