Plains All American Pipeline, L.P. (PAA)’s Stock Formed A Several Months Bearish Multiple Bottom Pattern

January 20, 2018 - By Migdalia James

Investors sentiment decreased to 0.63 in Q3 2017. Its down 0.42, from 1.05 in 2017Q2. It dropped, as 62 investors sold Plains All American Pipeline, L.P. shares while 124 reduced holdings. 35 funds opened positions while 82 raised stakes. 303.49 million shares or 3.28% more from 293.86 million shares in 2017Q2 were reported.
Texas Yale Cap has invested 0.5% in Plains All American Pipeline, L.P. (NYSE:PAA). 2.23 million are owned by Deutsche Bank Ag. Beach Investment Counsel Inc Pa has 0.25% invested in Plains All American Pipeline, L.P. (NYSE:PAA) for 111,250 shares. Rr Advsrs Ltd Liability stated it has 2.76 million shares or 7.92% of all its holdings. 320,600 were accumulated by Travelers Companies. Credit Suisse Ag holds 939,591 shares. Hilton Capital Management Lc holds 0.19% in Plains All American Pipeline, L.P. (NYSE:PAA) or 51,997 shares. Green Square Capital Ltd Liability Co, a Tennessee-based fund reported 268,998 shares. Winslow Evans Crocker Inc reported 0.1% stake. Franklin Resource Inc has invested 0.11% in Plains All American Pipeline, L.P. (NYSE:PAA). Whittier Co holds 9,912 shares. Cohen And Steers Incorporated holds 0.05% in Plains All American Pipeline, L.P. (NYSE:PAA) or 929,682 shares. Miller Howard Invs New York reported 2.83M shares. Nelson Van Denburg Campbell Wealth Grp Ltd, Nebraska-based fund reported 1,077 shares. Cibc Asset owns 24,517 shares.

The stock of Plains All American Pipeline, L.P. (PAA) shows a multiple bottoms pattern with $21.14 target or 6.00 % below today’s $22.49 share price. The 6 months chart pattern indicates high risk for the $16.31 billion company. It was reported on Jan, 20 by Finviz.com. If the $21.14 price target is reached, the company will be worth $978.54 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.40% or $0.09 during the last trading session, reaching $22.49. About 2.10 million shares traded. Plains All American Pipeline, L.P. (NYSE:PAA) has risen 11.50% since January 20, 2017 and is uptrending. It has underperformed by 5.20% the S&P500.

Analysts await Plains All American Pipeline, L.P. (NYSE:PAA) to report earnings on February, 6. They expect $0.43 EPS, up 207.14 % or $0.29 from last year’s $0.14 per share. PAA’s profit will be $311.82 million for 13.08 P/E if the $0.43 EPS becomes a reality. After $0.21 actual EPS reported by Plains All American Pipeline, L.P. for the previous quarter, Wall Street now forecasts 104.76 % EPS growth.

Plains All American Pipeline, L.P. (NYSE:PAA) Ratings Coverage

Among 30 analysts covering Plains All American Pipeline LP (NYSE:PAA), 10 have Buy rating, 1 Sell and 19 Hold. Therefore 33% are positive. Plains All American Pipeline LP has $49 highest and $16 lowest target. $27.17’s average target is 20.81% above currents $22.49 stock price. Plains All American Pipeline LP had 100 analyst reports since August 6, 2015 according to SRatingsIntel. As per Monday, April 24, the company rating was maintained by Wolfe Research. The rating was maintained by RBC Capital Markets on Sunday, October 1 with “Hold”. As per Wednesday, October 5, the company rating was upgraded by Wells Fargo. The stock of Plains All American Pipeline, L.P. (NYSE:PAA) has “Outperform” rating given on Monday, May 22 by Raymond James. As per Monday, August 28, the company rating was upgraded by Raymond James. On Thursday, August 6 the stock rating was maintained by Oppenheimer with “Outperform”. The firm earned “Hold” rating on Friday, November 3 by Stifel Nicolaus. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Friday, January 15 report. The company was upgraded on Friday, December 9 by JP Morgan. Bank of America maintained it with “Neutral” rating and $22 target in Monday, August 28 report.

More news for Plains All American Pipeline, L.P. (NYSE:PAA) were recently published by: Businesswire.com, which released: “Plains All American Pipeline, LP and Plains GP Holdings Announce Distributions” on January 08, 2018. Bizjournals.com‘s article titled: “Plains All American takes next step in succession plan” and published on January 10, 2018 is yet another important article.

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