Plains All American Pipeline, L.P. (PAA): What’s the Story?

Plains All American Pipeline, L.P. (PAA) is an interesting player in the Basic Materials space, with a focus on Oil & Gas Pipelines. The stock has been active on the tape, currently trading at $22.76, up from yesterday’s close by 1.65%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Plains All American Pipeline, L.P. (PAA) currently trades with a market capitalization of $16.05 Billion. That value represents a market adjusting for revenues that have been growing by 27.79 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $941 Million over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of $0.35 on a per share basis this quarter. Perhaps, that suggests something about why 0.74% of the outstanding share supply is held by institutional investors.

Technical Analysis

It’s important to check the technicals to get a sense of how PAA has been acting. Looking at the stock’s movement on the chart, Plains All American Pipeline, L.P. recorded a 52-week high of $33.01. It is now trading 10.25% off that level. The stock is trading $21.50 its 50-day moving average by -1.26%. The stock carved out a 52-week low down at $18.38.

In recent action, Plains All American Pipeline, L.P. (PAA) has made a move of -0.65% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 13.35, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 2.55% with $428.24 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of PAA.

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