Plains GP Holdings (PAGP) — Portfolio Change

2026-10-04T23:15:00Z 2026-10-04T23:15:00Z dividend-hunter dh PAGP portfolio-change removed energy-midstream 2026

Sources

Dividend Hunter — September 2026 Newsletter Issue

Summary

Plains GP Holdings (PAGP) was removed from the Dividend Hunter portfolio in August 2026, replaced by Millrose Properties (MRP). Removed due to share price appreciation pushing yield below 6.5%.

Removal Rationale

Per the September 2026 DH newsletter:

"When I add a new stock, I want to make sure it improves the portfolio. PAGP has been a great investment. The share price was up 160% over the last five years, with meaningful annual dividend increases. The AI-triggered energy boom has pushed energy midstream stocks higher. PAGP is up 40% over the last year. But the share price gains have pushed PAGP's yield below 6.5%, and the Dividend Hunter strategy focuses on higher-yielding investments."

Key Statistics at Removal

Metric Value
5-year share price gain +160%
1-year share price gain +40%
Yield at removal Below 6.5%
Since DH addition (2022) +120%

Tax Considerations

From Plains website: PAGP distributions are treated as a "return of capital" until positive earnings & profits for tax purposes (estimated ~2029).

Implication: Subscribers holding PAGP in taxable accounts may face large capital gains upon sale. Tim notes that selling PAGP may not be the right move tax-wise for some, and holds no fault with those who choose to keep their shares.

Replacement

MRP (Millrose Properties) added via August 17 Stock of the Week. See [Millrose Properties (MRP) — Deep Dive].

References