Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada.
FAIL · Does not pass the screen
26.85 USD
Price as of 26 Oct 2026Daily close, not a live quote
Screened 2026-10-26 · the tape above runs as of 18:04 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price26.85 USD at the 26 Oct 2026 close
Ethical screenDoes not pass
OptionsOpen interest leans heavily to calls (put/call 0.36)
Last reviewed26 Oct 2026 (2 days ago)
A summary of the dated readings below, not a live quote and not advice.
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 26.85 against the desk's fair-value range, base estimate 21.74, over the last year.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.36, read 2026-10-27
Ethical does not pass the values gate
Price26.85 USD
Fair value21.74
Ethical score70.0/100
Our investment reviews on this name
2026-10-23Read Accumulation24.98+7.5% to today ✓Markdown gives way to Accumulation
2026-10-02Read Markdown24.99+7.4% to today Markup gives way to Markdown after an 11% rise in 13 weeks
2026-07-02Read Markup22.44+19.7% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Plains All American Pipeline LP holds its Accumulation at $26.85. The statistical read favours the buyers, held for 1 days.
As held on the ledger · 2026-10-26
Phase
Accumulation
Quantitative state
The statistical read favours the buyers, held for 1 days
Price at the screen
$26.85
Valuation
23.15 trailing · 13.77 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.55
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
37.99%
Below 33%
Interest-bearing debt is 38.0% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
13.01%
Below 49%
Money owed to the company is 13.0% of assets, under the 49% limit.
Pass
Revenue purity
0.24%
Below 5%
Only 0.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Plains All American Pipeline LP's business is in a permissible area, but its interest-bearing debt is about 38% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
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Today PAA does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-26 screen. The gold marker is the market price at the same screen. The price runs 19.0% above the base estimate.
Third-party analyst targets: 17 covering, consensus Buy. The average target sits +1% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-26 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Pipeline flows mask a classic cyclical trap
Think of crude oil sloshing through fixed pipes while the price of the liquid itself jumps around like a rollercoaster. Plains All American carries that crude and natural gas liquids across North America, yet the whole setup lives and dies by volume and spreads that move with the energy cycle.
The 11.9 times forward earnings and 9 percent revenue growth look tempting on the surface, but our fair value sits 14 percent below the current price and the narrow moat gives scant defence when demand fades. In cyclical midstream, a low multiple usually flags peak earnings rather than a genuine bargain, which is why the opportunity rating stays at none despite the ethical screen passing.
Margins of just 3 percent and a 10 percent return on equity leave little cushion when oil prices or volumes drop, and the buy-rated analyst targets do not change that structural exposure. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PAA trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 41%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (18 analysts) rates it buy, with a mean price target of $24.
2026-10-16Markdown$24.980.0%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 41%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (18 analysts) rates it buy, with a mean price target of $24.
2026-10-02Markdown · changed$24.99-2.8%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 41%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (18 analysts) rates it buy, with a mean price target of $24.
2026-09-09Markup$25.72+5.3%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 41%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (18 analysts) rates it buy, with a mean price target of $24.
2026-08-08Markup$24.43+8.9%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 8.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 41%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (18 analysts) rates it buy, with a mean price target of $24.
2026-07-18Markup$22.44+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 41%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (18 analysts) rates it buy, with a mean price target of $24.
2026-07-03Markup$22.44+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$22.44Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
