EXE Maintained by Goldman Sachs -- Price Target Raised to $113

Excelerate Energy (NYSE:EE) reported $329.3M revenue, up 61% YoY, beating estimates. Kinder Morgan (NYSE:KMI) reported $4.48B revenue, up 10.8% YoY, also beating estimates. Expand Energy (NASDAQ:EXE) reported $2.51B revenue, down 10.6% YoY, but beat expectations. All companies' stock prices moved post-earnings.

Expand Energy (NASDAQ:EXE), a major natural gas producer, saw hedge fund investments decline in Q2 2026. The company benefits from rising US natural gas demand and LNG exports, with a 20-year LNG supply agreement and a $1.25B acquisition of Twin Eagle. However, its stock has fallen over 14% YTD due to volatile natural gas prices.

Expand Energy (EXE), a natural gas producer, has underperformed the S&P 500 and energy ETFs. Q2 revenue fell 19.8% YoY to $3B, but EPS beat estimates. Analysts expect 44.9% EPS growth this year, with a consensus 'Strong Buy' rating and a mean price target of $125.29.

Expand Energy entered a definitive agreement to acquire Twin Eagle Holdings for $1.25 billion, according to a company press release. Twin Eagle is a physical natural gas marketer. Expand plans to fund the deal with cash on hand and borrowings under its revolving credit facility. Expand was formed in late 2024 from Chesapeake Energy and Southwestern Energy.

Twin Eagle has more than 1,000 customers, according to Wichterich, while CFO Marcel Teunissen later said the business has more than 1,300 customers in its book. Wichterich said the marketer's average customer retention rate is 90% and that Twin Eagle has been profitable every year since its inception. "This is a demand pull future as opposed to a supply future," Wichterich said in response to an analyst question.

Expand Energy (NasdaqGS:EXE) said it agreed to acquire Twin Eagle. The company expects the combined natural gas platform to be immediately accretive and deliver operational synergies, expanding integration across supply, logistics, and marketing. The article also cites EXE trading below analyst and fair-value estimates and notes analyst expectations for earnings to decline.