Niska Gas Storage Downgraded by Barclays to Underweight (NKA)

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Niska Gas Storage (NYSE:NKA) was downgraded by investment analysts at Barclays from an “equal weight” rating to an “underweight” rating in a note issued to investors on Monday, AmericanBankingNews.com reports. They currently have a $15.00 target price on the stock, down from their previous target price of $17.00. Barclays’ price objective points to a potential upside of 3.02% from the company’s current price.

Shares of Niska Gas Storage (NYSE:NKA) traded up 0.89% on Monday, hitting $14.69. The stock had a trading volume of 32,617 shares. Niska Gas Storage has a one year low of $11.60 and a one year high of $17.00. The stock’s 50-day moving average is $15.12 and its 200-day moving average is $15.03. The company’s market cap is $518.6 million.

Niska Gas Storage (NYSE:NKA) last announced its earnings results on Thursday, January 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.61. On average, analysts predict that Niska Gas Storage will post $0.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 9.62%. The ex-dividend date of this dividend is Thursday, February 6th.

Niska Gas Storage Partners LLC is an independent owner and operator of natural gas storage assets in North America.

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