Investing in Plains All American Pipeline L.P. [PAA]: What You Must Know


Plains All American Pipeline L.P.’s recently made public that its Director McCarthy Kevin S acquired Company’s shares for reported $1.96 million on Jun 23. In the deal valued at $9.81 per share,200,000 shares were bought. As a result of this transaction, McCarthy Kevin S now holds 200,000 shares worth roughly $ 2.48 million.

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Citigroup initiated its Plains All American Pipeline L.P. [PAA] rating to a Buy in a research note published on Tuesday, December 09, 2022; the price target was $14. PT values the company’s stock at a premium of 11.36 to its Tuesday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in late November from “an Overweight” to “a Neutral”. Stifel also remained covering PAA and has increased its forecast on August 15, 2022 with a “Buy” recommendation from previously “Hold” rating. Seaport Research Partners revised its rating on August 01, 2022. It rated PAA as “a Buy” which previously was an “a Neutral”.

Price Performance Review of PAA

On Tuesday, Plains All American Pipeline L.P. [NASDAQ:PAA] saw its stock jump 0.81% to $12.41. On the same session, the stock had its day’s lowest price of $12.16, but rose to a high of $12.47. Over the last five days, the stock has gained 2.82%. Plains All American Pipeline L.P. shares have risen nearly 5.53% since the year began. Nevertheless, the stocks have risen 22.03% over the past one year. While a 52-week high of $12.75 was reached on 01/24/23, a 52-week low of $9.10 was recorded on 01/03/23. SMA at 50 days reached $11.96, while 200 days put it at $11.35. A total of 4.91 million shares were traded, compared to the trading of 4.92 million shares in the previous session.

Levels Of Support And Resistance For PAA Stock

The 24-hour chart illustrates a support level at 12.22, which if violated will result in even more drops to 12.04. On the upside, there is a resistance level at 12.53. A further resistance level may holdings at 12.66. The Relative Strength Index (RSI) on the 14-day chart is 67.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 5.66%. Stochastics %K at 87.54% indicates the stock is a selling.

How much short interest is there in Plains All American Pipeline L.P.?

A steep rise in short interest was recorded in Plains All American Pipeline L.P. stocks on Oct 13, 2022, growing by 2.55 million shares to a total of 27.09 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 24.54 million shares. There was a rise of 9.41%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.76.

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 56,137,512 shares, or roughly 8.04% of the outstanding PAA shares. In other words, the investor’s shares have fallen by -1,980,018 from its previous 13-F filing of 58117530.0. Additionally, Invesco Advisers, Inc. increased 10.91% of its stake after which the total value it holdings stand at $294,143,766, while Tortoise Capital Advisors LLC added 5.64% of its stake to hold $257.14 million in the firm. Over the last quarter, Goldman Sachs Asset Management LP purchased 112,461 shares of Plains All American Pipeline L.P., while Harvest Fund Advisors LLC bought -4,333,626 shares. At present, Kayne Anderson Capital Advisors L is holding 9,984,050 shares valued at $117.41 million. Global X Management Co. LLC owned 8,381,900 shares of the company at the time of its most recent 13F filing, worth $98.57 million.

According to FactSet, Plains All American Pipeline L.P.’s share price will average $15.11 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.85 percent from its previous closing price of $12.31. Analysts expect Plains All American Pipeline L.P. stock to reach the higher price of $20.00, while the lowest price estimate is $13.00. However, 22 analysts have rated PAA stock as an Overweight in their predictions for 2023.


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