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Why Plains All American Pipeline Jumped Nearly 11% in June

Shares of Plains All American Pipeline (PAA 0.71%) surged 10.8% in June, according to data provided by S&P Global Market Intelligence. Fueling the oil pipeline company's rally was an agreement to sell its Canadian natural gas liquids (NGL) business to Keyera. A transformative transactionPlains All American Pipeline agreed to sell its Canadian NGL business to Keyera for $3.75 billion in cash last month. The master limited partnership (MLP) will retain most of its NGL assets in the U.S. and its Canadian crude ...