TriplePoint Venture Growth BDC (NYSE:TPVG) Issues Quarterly Earnings Results

TriplePoint Venture Growth BDC (NYSE:TPVG) posted its earnings results on Wednesday. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03), Yahoo Finance reports. TriplePoint Venture Growth BDC had a negative net margin of 29.68% and a positive return on equity of 19.30%. The business had revenue of $29.27 million during the quarter, compared to analyst estimates of $31.25 million. During the same period in the previous year, the firm posted $0.53 earnings per share.

TriplePoint Venture Growth BDC Trading Down 1.2 %

Shares of TriplePoint Venture Growth BDC stock traded down $0.11 during trading hours on Friday, reaching $9.20. 528,967 shares of the company’s stock were exchanged, compared to its average volume of 290,342. The company has a 50 day moving average of $9.56 and a two-hundred day moving average of $10.25. The stock has a market cap of $346.10 million, a P/E ratio of -8.36 and a beta of 1.75. TriplePoint Venture Growth BDC has a fifty-two week low of $8.88 and a fifty-two week high of $12.70.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 17.39%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Ratings Changes

TPVG has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their price objective on TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating for the company in a research report on Thursday, March 7th. JMP Securities restated a “market perform” rating on shares of TriplePoint Venture Growth BDC in a report on Thursday, March 7th. StockNews.com lowered shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Piper Sandler lowered their target price on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Finally, Wells Fargo & Company cut their price target on TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating on the stock in a report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.38.

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.