The energy sector gained substantially in the second quarter of 2021. Even though the sector suffered from Hurricane Ida in August, it continues to benefit from unprecedented demand. Wall Street analysts believe that Tellurian Inc. (NASDAQ) and NextDecade Corporation will see a price increase of more than 75% within the short term. Let’s discuss.The mayhem caused by Hurricane Ida earlier this month was of concern to the energy sector. But, Hurricane Nicholas has caused relatively little damage to U.S.-based energy infrastructures, which left crude oil prices virtually unchanged. According to the International Energy Agency, oil demand is expected to rebound by 1.6million barrels per day in October according to its International Energy Agency. Also, as of September 9, prices were 99% higher year-to-date and could reach 13-year highs this winter.

The average revenue from the energy sector increased 93.9% over the previous year, while oil and gas production revenues experienced a 137.3% increase year-over year. Investors’ optimism about the industry is evident in the Energy Select Sector SPDR Fund’s (XLE (NYSE:)) 67.2% gains over the past year versus SPDR S&P 500 ETF Trust (SPY) 37.4% returns.

Given the industry’s strong growth prospects, Wall Street analysts expect energy stocks Tellurian Inc. (TELL) and NextDecade Corporation (NEXT), which are currently trading at less than $10, to rally more than 75% in price in the near term.

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