15 Small-Cap Energy Stocks Hedge Funds Are Buying

11. Plains GP Holdings (NASDAQ:PAGP)

Market Capitalization as of April 25: $14.74 billion

Number of Hedge Fund Holders: 22

Plains GP Holdings (NASDAQ:PAGP) owns midstream infrastructure systems in the US and Canada. It has two segments: Crude Oil and Natural Gas Liquids (NGLs). It gathers and transports crude oil using pipelines, trucks, and barges/railcars. It also provides terminalling, storage, and other related services.

The company’s All American Pipeline’s Crude Oil segment benefited from higher volumes transported and pipeline tariff escalation in 2024, which contributed to the company’s full-year adjusted EBITDA of $2.78 billion. In 2025, Plains anticipates growth in this Crude Oil segment from bolt-on acquisitions (like Ironwood Midstream Energy and Midway Pipeline).

Plains GP Holdings (NASDAQ:PAGP) expects Permian crude production to grow by 200,000-300,000 barrels a day year-over-year in 2025. This would lead to increased utilization of the company’s long-haul assets, particularly those serving Corpus Christi and the Basin Pipeline. In January, Plains announced three bolt-on acquisitions that totaled $670 million net. This includes Ironwood Midstream’s Eagle Ford assets and Medallion Midstream’s Delaware Basin operations.