At the core, the math appears to be “mathing” for Plains All American Pipeline (PAA), as the kids like to say. Structured as a master limited partnership (MLP), Plains All American engages in the pipeline transportation, terminaling, storage and gathering of crude oil and natural gas liquids (NGL) in the U.S. and Canada. As a midstream specialist, PAA stock inherently commands significant relevance. Still, with cynically favorable tailwinds abounding, it could be a top-tier play.
Certainly, the market has been eyeballing the enterprise. Since the beginning of the year, PAA stock has gained almost 15% of equity value. Over the trailing 52 weeks, it’s up nearly 42%. Assessing the broader fundamentals, the energy specialist could rise even higher. It may be as easy as one, two, three.
