Wells Fargo & Company Forecasts Strong Price Appreciation for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock

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

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

TriplePoint Venture Growth BDC Trading Up 1.1 %

Shares of TPVG opened at $8.04 on Tuesday. TriplePoint Venture Growth BDC has a 1-year low of $6.44 and a 1-year high of $11.58. The firm has a market capitalization of $321.99 million, a price-to-earnings ratio of 38.38 and a beta of 1.80. The firm’s 50-day moving average price is $7.06 and its 200-day moving average price is $7.96.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $26.52 million for the quarter, compared to the consensus estimate of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. During the same quarter in the prior year, the business earned $0.54 EPS. On average, research analysts forecast 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. Investors of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 14.93%. TriplePoint Venture Growth BDC’s payout ratio is 571.43%.

Institutional Trading of TriplePoint Venture Growth BDC

Institutional investors have recently made changes to their positions in the stock. McIlrath & Eck LLC bought a new stake in TriplePoint Venture Growth BDC during the third quarter valued at approximately $51,000. Y Intercept Hong Kong Ltd purchased a new stake in TriplePoint Venture Growth BDC in the third quarter worth about $307,000. XTX Topco Ltd purchased a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at about $118,000. Jane Street Group LLC grew its stake in shares of TriplePoint Venture Growth BDC by 712.4% during the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after acquiring an additional 92,072 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $99,000. Hedge funds and other institutional investors 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.