TriplePoint Venture Growth BDC Corp. Announces Quarterly Dividend of $0.30 (NYSE:TPVG)

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.30 per share by the investment management company on Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.35%. The ex-dividend date is Monday, March 17th.

TriplePoint Venture Growth BDC has a payout ratio of 106.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TriplePoint Venture Growth BDC to earn $1.28 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 93.8%.

TriplePoint Venture Growth BDC Price Performance

TPVG stock traded down $0.41 during midday trading on Thursday, reaching $7.34. 783,911 shares of the stock were exchanged, compared to its average volume of 390,458. The stock has a market capitalization of $293.96 million, a PE ratio of 34.95 and a beta of 1.88. TriplePoint Venture Growth BDC has a 52 week low of $6.44 and a 52 week high of $11.01. The company has a fifty day moving average price of $7.77 and a 200 day moving average price of $7.51.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $25.75 million for the quarter, compared to analyst estimates of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. As a group, analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on TPVG. Piper Sandler boosted their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Wells Fargo & Company lifted their target price on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. Finally, Compass Point lifted their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.80.

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.