QUOTE AND NEWS
Benzinga  Jun 16  Comment 
Raymond James upgraded Niska Gas Storage Partners LLC (NYSE: NKA) from Underperform to Market Perform. Niska Gas Storage shares have dropped 74.09 percent over the past 52 weeks, while the S&P 500 index has surged 7.33 percent in the same...
Benzinga  Jun 15  Comment 
Niska Gas Storage Partners LLC (NYSE: NKA) reported dismal earnings for 4Q15 during its quarterly conference call on Monday. CEO Bill Shea and CFO Vance Powers broke down the figures, as well as an acquisition by Brookfield Infrastructure Partners...
TheStreet.com  Jun 15  Comment 
NEW YORK (TheStreet) -- Shares of Niska Gas Storage Partners LLC were surging after the company agreed to be acquired by Brookfield Infrastructure this morning. The deal is valued at about $911.9 million, including the assumption of...
Benzinga  Jun 15  Comment 
Niska Gas Storage Partners LLC (NYSE: NKA) shares jumped 174.81 percent to $3.60 after the company agreed to be acquired by Brookfield Infrastructure Partners L.P. (NYSE: BIP) for $912 million. DealerTrack Technologies Inc (NASDAQ: TRAK)...
newratings.com  Jun 12  Comment 
WASHINGTON (dpa-AFX) - Niska Gas Storage Partners LLC (NKA)reported a net loss for the fourth quarter ended March 31, 2015 of $43.2 million or $1.12 per unit, compared to net income of $4.3 million or $0.12 per unit for the year-ago quarter. The...
Benzinga  Feb 2  Comment 
Ardelyx, Inc. (NASDAQ: ARDX) shares dropped 27.75% to $19.51 after the company announced results from Phase 2b clinical trial evaluating tenapanor in treating Hyperphosphatemia in chronic kidney disease patients on Hemodialysis. Niska Gas...
TheStreet.com  Dec 3  Comment 
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.  TheStreet Ratings quantitative algorithm...
StreetInsider.com  Oct 30  Comment 
The following is a list of notable articles to help get you through the lunch hour: Keefe, Bruyette & Woods Downgrades Fox Chase Bancorp (FXCB) to Market Perform -> Read this! Fitch Sees Gradual Rise in Rates as Positive for U.S. Banks -> Read...




 
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Niska Gas Storage Partners LLC (NKA) (NYSE:NKA) is the largest independent operator of natural gas storage assets in North America. The company has 185.5 Bcf (billion cubic feet) of storage for natural gas. Since its founding in 2006, the company has added 41.3 Bcf in storage space, a 29% increase. The supply of natural gas is relatively steady, however the demand for natural gas fluctuates. Therefore, there is a need to store the excess natural gas in slow periods, while taking it out of storage in periods of strong demand. Niskas Gas Storage offers contracts to allow its customers inject and withdraw their natural gas. The contract ranges from 1.0 to 6.0 cycles with an average of 2.2. [1]

The company offers two contracts. Long term contracts are contracts longer than 1 year, and short term contracts are contracts less than 1 year. The company also trades its own natural gas and accounts for it in net optimization revenue. Natural gas storage companies are capital intensive, requiring equity or debt financing to expand. If the economic conditions are not favorable, the company may not be able to expand its operation in order to create new storage space for new or existing customers. [1]

The company's initial public offering of stock filed on the NASDAQ exchange and went public on 11 May 2010. The stock was priced at $20.50, within the price range of $20.00 - $22.00. The company sold 17.5 million shares to raise $359 million. [1]

For the nine months ended 31 December 2009, the company reported total revenue of $149.7 million, down 29.3% from $211.6 million in total revenue for the nine months ended 31 December 2008. Furthermore, the company had net income of $3.2 million for the nine months ended 31 December 2009, down from $100.8 million in net income for the nine months ended 31 December 2008. The revenue is distributed with 55% in long-term contract revenue, 27% in short-term contract revenue, and 19% in net optimization revenue. [1]

References

  1. 1.0 1.1 1.2 1.3 Niska Gas Storage Partners LLC S-1/A
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