TriplePoint Venture Growth BDC (TPVG) Earns Market Perform Rating from Analysts at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods assumed coverage on shares of TriplePoint Venture Growth BDC (NYSE:TPVG) in a research report sent to investors on Monday morning. The firm issued a market perform rating on the investment management company’s stock.

TPVG has been the topic of a number of other research reports. ValuEngine downgraded TriplePoint Venture Growth BDC from a strong-buy rating to a buy rating in a research report on Friday, February 2nd. Zacks Investment Research raised TriplePoint Venture Growth BDC from a sell rating to a hold rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $14.00.

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NYSE:TPVG opened at $12.02 on Monday. TriplePoint Venture Growth BDC has a 52 week low of $11.11 and a 52 week high of $14.41. The firm has a market capitalization of $215.37, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 0.83 and a beta of 1.20.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Monday, March 12th. The investment management company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 37.33% and a return on equity of 11.94%. The business had revenue of $11.11 million during the quarter, compared to analysts’ expectations of $11.78 million. equities research analysts expect that TriplePoint Venture Growth BDC will post 1.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Friday, March 23rd were paid a $0.36 dividend. The ex-dividend date was Thursday, March 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.98%. TriplePoint Venture Growth BDC’s payout ratio is presently 89.44%.

Several hedge funds and other institutional investors have recently modified their holdings of TPVG. Wells Fargo & Company MN grew its stake in shares of TriplePoint Venture Growth BDC by 9.1% in the third quarter. Wells Fargo & Company MN now owns 428,472 shares of the investment management company’s stock valued at $5,742,000 after buying an additional 35,912 shares in the last quarter. Bank of Montreal Can grew its stake in shares of TriplePoint Venture Growth BDC by 13.6% in the fourth quarter. Bank of Montreal Can now owns 217,800 shares of the investment management company’s stock valued at $2,764,000 after buying an additional 26,000 shares in the last quarter. Texas Yale Capital Corp. acquired a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at $322,000. Macquarie Group Ltd. grew its stake in shares of TriplePoint Venture Growth BDC by 203.5% in the fourth quarter. Macquarie Group Ltd. now owns 17,814 shares of the investment management company’s stock valued at $226,000 after buying an additional 11,944 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 10.0% in the fourth quarter. BlackRock Inc. now owns 104,268 shares of the investment management company’s stock valued at $1,323,000 after buying an additional 9,461 shares in the last quarter. 31.89% of the stock is owned by institutional investors and hedge funds.

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About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.

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