QUOTE AND NEWS
StreetInsider.com  Feb 26  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Dividends/MLPs+Screened+for+Potential+Distribution+Cut+-+Goldman+Sachs+%28NS%29+%28NKA%29+%28SXE%29+%28EEP%29+%28TCP%29/9218734.html for the full story.
SeekingAlpha  Feb 19  Comment 
By MLPData: The radical distribution cut and share price meltdown from the February 10 earnings news by Boardwalk Pipeline Partners LP (BWP) seems to have pushed investors holding the similar Niska Gas Storage Partners LLC (NKA) into taking...
StreetInsider.com  Feb 13  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Dividends/Analyst+Speculates+About+Additional+Distribution+Cuts+at+MLPs+%28BWP%29+%28EEP%29+%28EVEP%29+%28NKA%29+%28NS%29/9166131.html for the full story.
Benzinga  Feb 10  Comment 
Bank of America downgraded Fairway Group Holdings (NASDAQ: FWM) from “neutral” to “underperform.” The price target for Fairway Group has been lowered from $20 to $6. Fairway Group's shares closed at $8.12 on Friday. Analysts at Credit...
SeekingAlpha  Feb 3  Comment 
ByJon Parepoynt: Niska Gas Storage Partners LP (NKA) is the largest natural gas storage firm in North America. As it operates under a master limited partnership (MLP) structure, investors are accustomed to receiving outsized distributions, but at...
Benzinga  Apr 5  Comment 
PICO Holdings (NASDAQ: PICO) shares climbed 8.33% to $23.29. The volume of PICO shares traded was 852% higher than normal. PICO shares have dropped 6.03% over the past 52 weeks, while the S&P 500 index has gained 12.86% in the same...
StreetInsider.com  Apr 4  Comment 
UPGRADES Wedbush lifts Sequenom (Nasdaq: SQNM) from Neutral to Outperform with a price target of $5. Click Here for more color. JPMorgan boosts CenturyLink, Inc. (NYSE: CTL) from Neutral to Overweight with a price target of $38. Click Here for...
StreetInsider.com  Apr 4  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Upgrades/Barclays+Upgrades+Niska+Gas+Storage+Partners+LLC+%28NKA%29+to+Equalweight/8232788.html for the full story.
Benzinga  Apr 3  Comment 
Niska Gas Storage Partners LLC (NYSE: NKA) shares climbed 14.16% to $14.34. The volume of Niska Gas Storage Partners shares traded was 1332% higher than normal. Analysts at Goldman Sachs upgraded Niska Gas from “sell” to...
StreetInsider.com  Apr 3  Comment 
UPGRADES Raymond James increases Brinker Int'l (NYSE: EAT) from Market Perform to Outperform with a price target of $42. Goldman Sachs lifts Niska Gas Storage Partners LLC (NYSE: NKA) from Sell to Neutral, adjusting its price target from $11 to...




 
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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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