CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 13F: Cuts PAGP Stake by $1.3M

Cushing Asset Management trimmed its stake in Plains GP Holdings, L.P. (PAGP) by 50,000 shares, as disclosed in a filing on October 26, 2026.

PAGP Plains GP Holdings, L.P.

$28.87 ▲ +56.90% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Where Plains GP Holdings Fits in Cushing Asset Management's Portfolio

This position now accounts for 6.85% of Cushing Asset Management's total reported value of about $1.42 billion, ranking it second among the fund's 73 positions.

Other Institutional Activity in Plains GP Holdings

Tortoise Capital Advisors, LLC reduced its holdings by 681,969 shares, ending with 11,116,796 shares worth about $320.9 million. Massachusetts Financial Services Co. also trimmed its position by 135,083 shares, bringing its total to 8,930,864 shares valued at approximately $257.8 million. Chickasaw Capital Management, LLC decreased its stake by 74,222 shares, resulting in 8,556,202 shares worth about $247.0 million.

Plains GP Holdings, L.P. Stock Up 0.9%

As of October 27, 2026, Plains GP Holdings was trading around $28.87, which is above its 50-day moving average of $27.24 and its 200-day average of $24.50. The stock is currently just below its 52-week high of $28.93, indicating strong market performance.

Recent Earnings

For the trailing twelve months, Plains GP Holdings reported revenue of approximately $52.3 billion, with an earnings per share (EPS) of $0.44. The next earnings report is scheduled for November 6, 2026.

Dividend

Plains GP Holdings offers a dividend rate of $1.67 per share, which corresponds to a yield of 5.78%. This payout is notable considering the company has a dividend payout ratio of 362.5%.

Analysts Set New Price Targets

On September 3, 2026, JP Morgan maintained a Neutral rating on the stock with a $27.00 price target, which was later confirmed by Citigroup on September 17. Barclays set an Underweight rating with a target of $24.00 on September 21, while Mizuho maintained an Outperform rating with a $30.00 target the same day. UBS also maintained a Buy rating with a target of $30.00 on October 9, 2026.

About Plains GP Holdings

Plains GP Holdings, L.P. is involved in the midstream energy sector, operating infrastructure systems for gathering and transporting crude oil and natural gas liquids in the U.S. and Canada. This recent trimming of their stake may reflect a strategy to adjust their portfolio as market conditions fluctuate.

Bottom Line

Investors should keep an eye on Plains GP Holdings as it approaches its next earnings date on November 6, 2026. Cushing Asset Management's recent filing indicates a cautious approach to its investment in this stock, and further updates on their position could provide insights into their strategy.