Price Action Report: Plains All American Pipeline, L.P. Sets 52-Week High; Strong Momentum for Holders

Price Action Report: Plains All American Pipeline, L.P. Sets 52 Week High; Strong Momentum for Holders

The stock of Plains All American Pipeline, L.P. (NYSE:PAA) hit a new 52-week high and has $49.49 target or 52.00% above today’s $32.56 share price. The 8 months bullish chart indicates low risk for the $13.07 billion company. The 1-year high was reported on Oct, 18 by Barchart.com. If the $49.49 price target is reached, the company will be worth $6.80 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 102,453 shares traded hands. Plains All American Pipeline, L.P. (NYSE:PAA) has risen 41.98% since March 15, 2016 and is uptrending. It has outperformed by 36.49% the S&P500.

Analysts await Plains All American Pipeline, L.P. (NYSE:PAA) to report earnings on November, 1. They expect $0.30 EPS, up 25.00% or $0.06 from last year’s $0.24 per share. PAA’s profit will be $120.42M for 27.13 P/E if the $0.30 EPS becomes a reality. After $-0.20 actual EPS reported by Plains All American Pipeline, L.P. for the previous quarter, Wall Street now forecasts -250.00% EPS growth.

Plains All American Pipeline, L.P. (NYSE:PAA) Ratings Coverage

Out of 24 analysts covering Plains All American Pipeline LP (NYSE:PAA), 7 rate it a “Buy”, 1 “Sell”, while 16 “Hold”. This means 29% are positive. $49 is the highest target while $16 is the lowest. The $30.53 average target is -6.23% below today’s ($32.56) stock price. Plains All American Pipeline LP has been the topic of 52 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by Citigroup with “Buy” on Friday, August 7. The stock of Plains All American Pipeline, L.P. (NYSE:PAA) has “Equal Weight” rating given on Monday, January 11 by Barclays Capital. Robert W. Baird upgraded the stock to “Neutral” rating in Wednesday, July 13 report. On Wednesday, August 31 the stock rating was reinitiated by Wunderlich with “Hold”. RBC Capital Markets maintained Plains All American Pipeline, L.P. (NYSE:PAA) on Thursday, February 11 with “Sector Perform” rating. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, August 6. Piper Jaffray reinitiated the shares of PAA in a report on Friday, April 1 with “Neutral” rating. The rating was maintained by Wunderlich with “Hold” on Monday, December 14. The company was downgraded on Wednesday, January 13 by JP Morgan. The stock of Plains All American Pipeline, L.P. (NYSE:PAA) earned “Outperform” rating by Robert W. Baird on Thursday, December 10.

According to Zacks Investment Research, “Plains All American Pipeline, L.P. is engaged in interstate and intrastate marketing, transportation and terminalling of crude oil.”

Insitutional Activity: The institutional sentiment increased to 0.98 in 2016 Q2. Its up 0.29, from 0.69 in 2016Q1. The ratio is positive, as 38 funds sold all Plains All American Pipeline, L.P. shares owned while 124 reduced positions. 57 funds bought stakes while 101 increased positions. They now own 240.10 million shares or 4.07% less from 250.29 million shares in 2016Q1.
Jefferies Gp Limited Liability Corporation last reported 1.65M shares in the company. Alliancebernstein Ltd Partnership accumulated 71,136 shares or 0% of the stock. Kayne Anderson Capital Ltd Partnership has 11.07M shares for 3.38% of their US portfolio. Endowment Management Ltd Partnership accumulated 0.18% or 30,500 shares. Mufg Americas Holdg has 0% invested in the company for 1,650 shares. Moody Fincl Bank Trust Division has 8,500 shares for 0.01% of their US portfolio. Deutsche State Bank Ag holds 4.37 million shares or 0.08% of its portfolio. Tortoise Capital Advsr Ltd Liability holds 6.2% or 32.26 million shares in its portfolio. Cutter & Brokerage Inc reported 15,742 shares or 0.18% of all its holdings. Rr Advsrs Limited Liability Corporation last reported 11.99% of its portfolio in the stock. Douglass Winthrop Lc owns 17,615 shares or 0.04% of their US portfolio. Pinnacle Assoc Ltd has 19,361 shares for 0.01% of their US portfolio. Stifel Finance last reported 618,416 shares in the company. Telemus Capital Lc holds 0.05% of its portfolio in Plains All American Pipeline, L.P. (NYSE:PAA) for 15,417 shares. Goldman Sachs Inc has invested 0.15% of its portfolio in Plains All American Pipeline, L.P. (NYSE:PAA).

Insider Transactions: Since August 18, 2016, the stock had 0 buys, and 2 selling transactions for $1.58 million net activity. $515,804 worth of Plains All American Pipeline, L.P. (NYSE:PAA) was sold by DUCKETT W DAVID on Thursday, August 18. $1.06 million worth of Plains All American Pipeline, L.P. (NYSE:PAA) was sold by vonBerg John.

More recent Plains All American Pipeline, L.P. (NYSE:PAA) news were published by: Businesswire.com which released: “Plains All American Pipeline, L.P. and Plains GP Holdings Announce Timing of …” on October 03, 2016. Also Businesswire.com published the news titled: “Plains All American Pipeline, L.P. and Plains GP Holdings Announce Distributions” on September 30, 2016. Finance.Yahoo.com‘s news article titled: “Plains All American Trims Distribution, Simplifies Operation” with publication date: October 05, 2016 was also an interesting one.

PAA Company Profile

Plains All American Pipeline, L.P., incorporated on September 17, 1998, owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Firm operates through three divisions: Transportation, Facilities, and Supply and Logistics. Through its divisions, the Company is engaged in the transportation, storage, terminalling and marketing of crude oil, NGL and natural gas. The majority of its activities are focused on crude oil, which is the principal feedstock used by refineries in the production of transportation fuels. The Firm owns a network of pipeline transportation, terminalling, storage and gathering assets in crude oil and NGL producing basins and transportation corridors and at market hubs in the United States and Canada.

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