Why These 15 Oil & Gas Stocks Are Skyrocketing So Far In 2025

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9. Plains GP Holdings LP (NASDAQ:PAGP)

Number of Hedge Fund Holders In Q3 2024: 18

Plains GP Holdings LP (NASDAQ:PAGP) operates midstream energy infrastructure. The company connects production basins like the Permian to refineries and export hubs and handles about 8 million barrels daily.

PAGP stock has gained significantly year-to-date due to strategic acquisitions and capital optimization. On January 7, 2025, Plains announced three bolt-on acquisitions totaling $670 million net. This includes Ironwood Midstream’s Eagle Ford assets and Medallion Midstream’s Delaware Basin operations.

It has also repurchased 18% of its Series A Preferred Units at par ($330 million). As such, it reduced leverage below its 3.25x target. Moreover, Plains GP increased its quarterly distribution by 20% to $0.38/unit (annualized $1.52). Analysts responded positively, with Wolfe Research upgrading to Outperform (PT: $22) and UBS raising its target to $26.

Recent SEC filings show Plains raised $1 billion via 5.95% senior notes due 2035.

The consensus price target of $21.14 implies 0.05% downside.

PAGP stock is up 14.2% year-to-date.

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