Plains All American Pipeline L.P. (PAA) Shares are Up 3.81%

Plains All American Pipeline L.P. (PAA) has been under a strong bear grip, hence the stock is down -0.51% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.75% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.81% in the last 1 week, and is up 0.52% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 3.66% and the 50-Day Moving Average is 7.67%. Plains All American Pipeline L.P. (NYSE:PAA): stock turned positive on Friday. Though the stock opened at $29.41, the bulls momentum made the stock top out at $29.56 level for the day. The stock recorded a low of $28.96 and closed the trading day at $29.15, in the green by 0.52%. The total traded volume for the day was 1,640,875. The stock had closed at $29 in the previous days trading.

Plains

The company Insiders own 1.3% of Plains All American Pipeline L.P. shares according to the proxy statements. Institutional Investors own 64.72% of Plains All American Pipeline L.P. shares. Also, In the latest statement by the brokerage house, Goldman Sachs upgrades its outlook on Plains All American Pipeline L.P. (NYSE:PAA). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Sell. The brokerage firm raises the price target from $21 per share to $26 per share. The rating by the firm was issued on August 3, 2016.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Companys operational segments include Transportation, Facilities, and Supply and Logistics. The transportation segment operations consist of fee-based activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges. The facilities segment operations consist of fee-based activities associated with providing storage, terminalling and throughput services for crude oil, refined products, NGL and natural gas. The supply and logistics segment operations consist of merchant-related activities.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *