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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 16.35%. The ex-dividend date is Monday, March 17th.

TriplePoint Venture Growth BDC has a payout ratio of 106.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Stock Performance

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

TriplePoint Venture Growth BDC (NYSE:TPVG) last released 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). TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The company had revenue of $25.75 million during the quarter, compared to analysts’ expectations of $26.68 million. As a group, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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