Last $15.00 USD
Change Today -0.48 / -3.10%
Volume 196.4K
NKA On Other Exchanges
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As of 4:15 PM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).

niska gas storage partners-u (NKA) Snapshot

Open
$15.55
Previous Close
$15.48
Day High
$15.73
Day Low
$14.97
52 Week High
10/17/13 - $17.00
52 Week Low
02/14/14 - $11.30
Market Cap
542.9M
Average Volume 10 Days
74.5K
EPS TTM
$0.52
Shares Outstanding
36.2M
EX-Date
05/15/14
P/E TM
28.8x
Dividend
$1.40
Dividend Yield
9.33%
Current Stock Chart for NISKA GAS STORAGE PARTNERS-U (NKA)

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niska gas storage partners-u (NKA) Details

Niska Gas Storage Partners LLC owns and operates natural gas storage assets in North America. It primarily operates the AECO Hub comprising the Countess and Suffield gas storage facilities in Alberta, Canada; the Wild Goose gas storage facility in California; and the Salt Plains gas storage facility in Oklahoma. As of March 31, 2014, the company owned or contracted approximately 250.5 billion cubic feet of total natural gas storage capacity. It serves financial institutions, marketers, pipelines, power generators, municipalities, utilities, and producers of natural gas. Niska Gas Storage Partners LLC was founded in 2006 and is headquartered in Houston, Texas.

128 Employees
Last Reported Date: 05/30/14
Founded in 2006

niska gas storage partners-u (NKA) Top Compensated Officers

Chief Financial Officer and Principal Account...
Total Annual Compensation: $572.8K
Executive Vice President
Total Annual Compensation: $663.8K
Vice President, General Counsel and Corporate...
Total Annual Compensation: $447.5K
Compensation as of Fiscal Year 2014.

niska gas storage partners-u (NKA) Key Developments

Niska Gas Storage Partners LLC Announces Resignation of Jason Kulsky as Vice President, Business Development Effective June 25, 2014

Mr. Jason Kulsky resigned from his position as the Vice President, Business Development of Niska Gas Storage Partners LLC, effective June 25, 2014.

Niska Gas Storage Partners LLC Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2014; Announces Management Changes; Provides Earnings Guidance for the Fiscal Year 2015; Reports Impairment Charge for the Fourth Quarter of 2014

Niska Gas Storage Partners LLC announced unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2014. Net earnings for the three months ended March 31, 2014 were $4.3 million or $0.12 per basic and diluted common unit compared to a net loss of $1.3 million or $0.02 per basic and diluted common and subordinated unit in the same period last year. Adjusted EBITDA and cash available for distribution were $55.5 million and $39.3 million, respectively, for the quarter compared to $77.7 million and $61.9 million, respectively for the same period last year. Total revenue was $87,497,000 against $45,106,000 a year ago. Earnings before income taxes were $631,000 against loss before income taxes of $1,019,000 a year ago. Capital expenditures were $1,930,000 against $780,000 a year ago. Net earnings allocated to Common unitholders was $4,244,000 against loss of $633,000 a year ago. Adjusted EBITDA for the year was $140.0 million compared to $181.7 million for the year ended March 31, 2013. Cash available for distribution was $75.0 million in fiscal 2014 compared to $117.1 million in fiscal 2013. Net loss for the year was $9.0 million or $0.25 per common unit compared to a net loss of $43.6 million or $0.63 per common and subordinated unit for the fiscal year 2013. Total revenue was $207,396,000 against $140,695,000 a year ago. Loss before income taxes was $19,213,000 against $62,543,000 a year ago. Capital expenditures were $5,585,000 against $24,464,000 a year ago. Net earnings allocated to Common unitholders was $8,786,000 against $21,584,000 a year ago. The company also announced that, effective as of May 7, 2014, Simon Dupere, its President and Chief Executive Officer has resigned as a director and officer, and that Niska has hired four former officers of PVR GP, LLC, the general partner of PVR Resources, L.P. Specifically, William H. Shea, Jr. has been appointed as Niska's Chairman, President and Chief Executive Officer, Mark D. Casaday has been appointed as Niska's Chief Operating Officer, Robert B. Wallace has been appointed as Niska's Vice President, Finance and Corporate Development, and Bruce D. Davis, Jr. has been appointed as Niska's Vice President, Chief Administrative Officer. Assuming market conditions fall within range of expectations, which reflect both the challenges and opportunities of the current natural gas storage environment, the company currently estimate adjusted EBITDA for fiscal 2015 to be in the range of $120 million to $140 million, and cash available for distribution to be in the range of $65 million to $85 million. Revenues and financial results in fiscal 2015 to follow a more traditional pattern of recognition, whereby the majority of revenues will be earned in the last two quarters of the fiscal year. The company reported inventory impairment write-down of $4,600,000 in the fourth quarter of 2014.

Niska Gas Seeks Acquisitions

Niska Gas Storage Partners LLC (NYSE:NKA) seeks acquisitions. "As we join Niska we will again be looking for opportunities, both organic and through acquisitions, to increase the size and scope of Niska's operations. On our call today, we're going to discuss our results for the quarter and the year ended March 31, 2014, and provide an update on our current business environment. We want to grow outside the gas storage business by adding complementary midstream gathering, processing, and other businesses. We anticipate adding these businesses through acquisitions but also greenfield development. And as you know from our past, we have been successful at both. While we are searching for and developing these value additions to Niska, we're going to continue to maximize the potential of our existing storage business. Those of you who have heard me on these calls over the years at Buckeye and PVR, however, know that I won't talk about opportunities that we are working on. But you can be assured that we are searching for and will be executing on expansion opportunities. We also believe there are opportunities for expansion in Canada. We are not going to leave Canada out of it. And we also see, on occasion, storage facilities, businesses that come up for sale. Probably permitting and doing a greenfield storage project might be a little difficult and time-consuming at this time, but there are acquisitions that are available from time to time Geez, Michael, I just started today! You are merging me out of business today? Look it, I think the key, Mike, is we are here to create value. And that's the bottom line. So if that's the best way to create value, absolutely. And I think you've seen, we've all seen consolidation in the MLP market. So sure, I don't think there's anything that's off the table. But I do think we've got a good team here, was got good assets and I think we've got a great sponsor in Riverstone. So I think we will have some opportunities to grow greenfield and through acquisition. And if a bigger transaction comes up, it comes up. It's probably not something we would be looking for right out of the box," said Bill Shea, Niska Gas Storage Partners, Chairman, President, and Chief Executive Officer.

 

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