Plains All American Pipeline, L.P. (PAA)

Over the past six months, Plains All American Pipeline LP (PAA) stock has experienced several events and analyst activities. As of November 21, 2025, the stock price was $17.01, reflecting a 3.03% increase over the past 30 days but a 4.54% decrease over the past 12 months. Key events include Morgan Stanley raising PAA's price target from $20.00 to $21.00, Scotiabank lowering its price target from $20.00 to $19.00, and PAA reporting its Q3 2025 earnings with a solid adjusted EBITDA of $669 million. Raymond James reiterated a "Strong Buy" rating but lowered its price target from $24.00 to $22.00, Barclays decreased its price target from $18.00 to $17.00, and JP Morgan lowered its price target from $21.00 to $20.00. PAA also reported Q2 2025 earnings, announcing the sale of its NGL business to Keyera for approximately $3.75 billion.

Demand seasonality for Plains All American Pipeline LP's products and services primarily impacts its NGL segment, which experienced a sequential decrease in adjusted EBITDA in Q2 2025 due to normal seasonality and lower quarter-on-quarter frac spreads. The energy sector, in general, can experience seasonal fluctuations in demand influenced by factors such as weather and industrial activity. The company's crude oil segment generates revenues from long-term minimum volume commitments, acreage dedications, leased capacity, and spot utilization, suggesting a degree of stability in demand through contractual arrangements.

Plains All American Pipeline, L.P. (PAA) is a master limited partnership in the midstream energy sector, focusing on pipeline transportation, terminalling, storage, and gathering of crude oil, natural gas liquids (NGLs), and natural gas. The company operates through Crude Oil and Natural Gas Liquids (NGL) segments. The Crude Oil segment provides services such as gathering and transporting crude oil through its network, while the NGL segment focuses on natural gas processing, NGL fractionation, storage, transportation, and terminaling.

Plains All American Pipeline operates across the United States and Canada, with U.S. operations concentrated in key crude oil and NGL producing basins and transportation corridors, including the Permian Basin, South Texas/Eagle Ford area, Rocky Mountain, and Gulf Coast regions. In Canada, PAA has operations in areas such as Manito, South Saskatchewan, and Rainbow.

Information specifically detailing Plains All American Pipeline LP's brand reputation in the past year is not readily available. However, the company has emphasized its commitment to enhancing its environmental, social, and governance (ESG) practices, which can positively influence reputation. PAA also highlights its Plains CARE Program as a commitment to collaborating with communities where it operates.

Plains All American Pipeline LP (PAA) has a diverse ownership structure, including institutional, insider, and retail investors. Major institutional owners include Alps Advisors Inc., AMLP - ALERIAN MLP ETF, and Invesco Ltd. Paa GP Holdings LLC is the largest individual shareholder, owning 233.00 million shares representing 33.03% of the company. Significant individual/insider owners include Chris Temple, Lance Conn, and Paul G. Allen.