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Plains All American Pipeline: Recommendations and Price Targets

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PAA’s year-to-date performance

Plains All American Pipeline (PAA) stock has risen ~18% in 2019, outperforming the Alerian MLP ETF (AMLP), which is up 12% year-to-date. The stock has, however, underperformed its peers Kinder Morgan (KMI) and ONEOK (OKE), but it has outperformed Enterprise Products Partners (EPD) over the same timeframe.

Of the 22 Reuters-surveyed analysts covering Plains All American Pipeline, eight have given it “strong buys,” eight have given it “buys,” and the remaining six have given it “holds.” The mean price target for Plains All American Pipeline is $27.6, implying a potential upside of 15% from its current price.

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The graph above shows analysts’ recommendations and mean price target for Plains All American Pipeline over the last year. As the graph shows, more analysts rate Plains All American as a “buy” or a “strong buy” now than a year ago. More analysts have also turned bullish on the stock, especially in the last six months.

Moving averages

Plains All American Pipeline is trading close to its 50-day and 200-day moving averages. Like many of its peers, the stock has been trading range-bound for roughly four months now. Plains All American’s 50-day moving average crossed above its 200-day moving average in April. Its 14-day relative strength index currently stands at ~53.

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