TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) to Issue $0.30 Quarterly Dividend

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, December 13th will be paid a dividend of 0.30 per share by the investment management company on Friday, December 27th. This represents a $1.20 annualized dividend and a yield of 15.88%. The ex-dividend date is Friday, December 13th.

TriplePoint Venture Growth BDC has increased its dividend by an average of 3.6% annually over the last three years. TriplePoint Venture Growth BDC has a dividend payout ratio of 93.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect TriplePoint Venture Growth BDC to earn $1.30 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 92.3%.

TriplePoint Venture Growth BDC Stock Up 10.9 %

Shares of NYSE:TPVG opened at $7.56 on Friday. The firm has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $8.07. TriplePoint Venture Growth BDC has a 52 week low of $6.44 and a 52 week high of $11.58. The stock has a market capitalization of $301.82 million, a P/E ratio of 35.98 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, August 7th. The investment management company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a return on equity of 17.07% and a net margin of 9.01%. The company had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $28.77 million. During the same quarter last year, the firm posted $0.53 EPS. On average, analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava bought 11,298 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the purchase, the president now directly owns 250,858 shares in the company, valued at approximately $1,761,023.16. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

TPVG has been the topic of several recent analyst reports. LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $8.50 to $8.00 in a report on Friday, August 9th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $7.50 in a research note on Thursday. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.65.

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.