Sunday, June 26, 2022

Taking a Closer Look At Plains All American Pipeline L.P. (PAA) Following Its Recent Trade

Credit Suisse upgraded its Plains All American Pipeline L.P. [PAA] rating to an Outperform from a a Neutral in a research note published on Tuesday, May 12, 2022; the price target was increased to $14 from $13. PT values the company’s stock at a premium of 27.29 to its Tuesday closing price. Bernstein also remained covering PAA and has increased its forecast on January 25, 2022 with a “an Outperform” recommendation from previously “Mkt perform” rating. Wolfe Research revised its rating on January 10, 2022. It rated PAA as “an Outperform” which previously was an “a Peer perform”.

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Price Performance Review of PAA

On Tuesday, Plains All American Pipeline L.P. [NASDAQ:PAA] saw its stock jump 4.84% to $10.18. On the same session, the stock had its day’s lowest price of $9.88, but rose to a high of $10.255. Over the last five days, the stock has lost -5.39%. Plains All American Pipeline L.P. shares have risen nearly 8.99% since the year began. Nevertheless, the stocks have fallen -12.17% over the past one year. While a 52-week high of $12.10 was reached on 02/04/22, a 52-week low of $8.64 was recorded on 01/03/22. SMA at 50 days reached $10.97, while 200 days put it at $10.48. A total of 6.16 million shares were traded, compared to the trading of 11.21 million shares in the previous session.

Levels Of Support And Resistance For PAA Stock

The 24-hour chart illustrates a support level at 9.95, which if violated will result in even more drops to 9.73. On the upside, there is a resistance level at 10.33. A further resistance level may holdings at 10.48. The Relative Strength Index (RSI) on the 14-day chart is 38.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 73.98%. Stochastics %K at 13.28% indicates the stock is a buying.

Plains All American Pipeline L.P. [PAA] – Who Are The Largest Shareholders?

In filings from ALPS Advisors, Inc., it is revealed that the company now owns 58,378,767 shares, or roughly 8.31% of the outstanding PAA shares. In other words, the investor’s shares have risen by 5,872,895 from its previous 13-F filing of 52505872.0. Additionally, Harvest Fund Advisors LLC decreased -27.03% of its stake after which the total value it holdings stand at $285,553,918, while Tortoise Capital Advisors LLC reduced -2.30% of its stake to hold $255.43 million in the firm. Over the last quarter, Invesco Advisers, Inc. purchased 4,849,355 shares of Plains All American Pipeline L.P., while Goldman Sachs Asset Management LP bought 316,686 shares. At present, CIBC Private Wealth Advisors, Inc is holding 9,912,923 shares valued at $112.91 million. Brookfield Public Securities Grou owned 9,088,180 shares of the company at the time of its most recent 13F filing, worth $103.51 million.

According to FactSet, Plains All American Pipeline L.P.’s share price will average $14.10 in the next year, based on opinions of analysts polled by the firm. This is up nearly 44.18 percent from its previous closing price of $9.71. Analysts expect Plains All American Pipeline L.P. stock to reach the higher price of $17.00, while the lowest price estimate is $12.00.

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