Seeking Alpha

Niska Gas Storage (NKA) +3.9% premarket after announcing an equity restructuring eliminating its...

Niska Gas Storage (NKA) +3.9% premarket after announcing an equity restructuring eliminating its subordinated units which accounted for 50% of units outstanding. Stifel Nicolaus upgrades shares to Buy from Hold, believing the change in the capital structure places NKA in a position to begin growing its distribution. Since coming public in May 2010, NKA has paid only the minimum quarterly distribution.
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