Keefe, Bruyette & Woods Upgrades TriplePoint Venture Growth BDC (NYSE:TPVG) to “Market Perform”

Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from an underperform rating to a market perform rating in a report issued on Thursday morning, MarketBeat reports. Keefe, Bruyette & Woods currently has $7.50 price target on the investment management company’s stock, down from their previous price target of $8.00.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Finally, Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, TriplePoint Venture Growth BDC has an average rating of “Hold” and a consensus target price of $7.65.

TriplePoint Venture Growth BDC Trading Up 4.4 %

NYSE:TPVG opened at $7.87 on Thursday. The firm has a market capitalization of $315.19 million, a PE ratio of 37.48 and a beta of 1.80. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $11.58. The firm’s fifty day simple moving average is $7.00 and its 200 day simple moving average is $8.04.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results 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. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $26.52 million for the quarter, compared to the consensus estimate of $25.65 million. During the same period last year, the business posted $0.54 earnings per share. As a group, analysts anticipate 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 Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.25%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is 571.46%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock valued at $250,000 after acquiring an additional 1,346 shares during the period. Kovack Advisors Inc. boosted its holdings in shares of TriplePoint Venture Growth BDC by 7.8% in the 3rd quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock worth $262,000 after acquiring an additional 2,700 shares in the last quarter. Norden Group LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 20.0% in the 1st quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock worth $169,000 after acquiring an additional 2,972 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in TriplePoint Venture Growth BDC by 19.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in TriplePoint Venture Growth BDC by 31.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock valued at $94,000 after purchasing an additional 3,378 shares in the last quarter. 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.