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EverGen Infrastructure Corp. ( (TSE:EVGN) ) just unveiled an announcement.
EverGen Infrastructure Corp., through its wholly owned subsidiary Fraser Valley Biogas, has brought into effect a new 20-year Biomethane Purchase Agreement with FortisBC Energy Inc. for the sale of renewable natural gas produced at its Fraser Valley facility. Under the deal, FortisBC will purchase RNG for injection into its natural gas system, supporting its strategy to expand renewable and lower-carbon gas supplies while securing a long-term, contracted revenue stream for EverGen and reinforcing one of British Columbia’s earliest RNG supply relationships, thereby strengthening EverGen’s platform stability and its role in the province’s lower-carbon energy transition.
The most recent analyst rating on (TSE:EVGN) stock is a Hold with a C$0.43 price target. To see the full list of analyst forecasts on EverGen Infrastructure Corp. stock, see the TSE:EVGN Stock Forecast page.
Spark’s Take on TSE:EVGN Stock
According to Spark, TipRanks’ AI Analyst, TSE:EVGN is a Neutral.
The score is primarily weighed down by weak financial performance (declining revenue, negative profitability, and negative operating/free cash flow). Technical indicators are somewhat supportive near-term (price above 20/50DMA with relatively strong RSI), but longer-term trend levels and a near-flat/negative MACD temper that support. Valuation is constrained by a negative P/E and no provided dividend yield.
To see Spark’s full report on TSE:EVGN stock, click here.
More about EverGen Infrastructure Corp.
EverGen Infrastructure Corp. is a Canadian renewable energy producer that acquires, develops, builds, owns and operates renewable natural gas (RNG), waste-to-energy and related infrastructure projects. Headquartered on Canada’s West Coast, the company positions itself as a national RNG infrastructure platform, with a portfolio that includes Fraser Valley Biogas, Western Canada’s original producing RNG project and the first to inject RNG into FortisBC’s natural gas network, and it is targeting further growth across North America.
Average Trading Volume: 43,754
Technical Sentiment Signal: Sell
Current Market Cap: C$9.76M
Learn more about EVGN stock on TipRanks’ Stock Analysis page.