The firm increased its Plains GP Holdings position, now valued at $48.44 million, amid a 38% share price rise over the past year.
Energy Income Partners raised its stake in Plains GP Holdings (NASDAQ:PAGP) by 120,765 shares in the first quarter, a $2.64 million transaction based on average quarterly pricing. The move reflects confidence in the midstream energy sector, with the position’s quarter-end value climbing to $48.44 million due to share purchases and price appreciation.
The firm’s top holdings include Enterprise Products Partners (NYSE:EPD) at $519.59 million and Energy Transfer (NYSE:ET) at $486.50 million. PAGP now represents 3.51% of Energy Income Partners’ 13F reportable assets, up from prior levels. Shares of PAGP closed at $24.35 on Friday, outperforming the S&P 500’s 28% gain over the same period.
Plains GP Holdings operates crude oil and natural gas liquids pipelines, generating revenue through fee-based transportation and storage services. The increased stake suggests optimism in the company’s outlook amid sector growth.