Zacks Investment Research downgraded shares of NISKA GAS STRG (NKA) from NEUTRAL to UNDERPERFORM on October 22, 2012, with a target price of $11.70.
Niska Gas Storage Partners LLC owns and operates natural gas storage in North America. The facilities owned and operated by the company include the AECO Hub in Alberta, Canada Wild Goose in Northern California and Salt Plains in Oklahoma. Its assets are located in key North American natural gas producing and consuming regions and are connected at strategic points on the gas transmission network, providing access to multiple end-use markets. Niska stores natural gas for a range of customers, including financial institutions, marketers, pipelines, power generators, utilities and producers of natural gas. The Company provides multi-year, multi-cycle storage services to its customers under long-term firm reserved storage contracts, or LTF contracts. In addition, it provides services for customers under short-term firm fixed-nomination contracts, or STF contracts.
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