Not one stress but several checks
Piping codes do not compare a single equivalent stress with a single limit. They carry out separate checks for different kinds of load, because these lead to failure in different ways: pressure and weight through plastic collapse in a single overload, thermal expansion through fatigue over many cycles.
A pipe stress calculation is therefore a series of checks, each with its own load combination and its own allowable value. A line is justified only when all of them are satisfied.