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Eversource Energy (ES) is a Top-Ranked Growth Stock: Should You Buy?

Zacks Equity Research
·2 min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

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Eversource Energy (ES)

Eversource Energy, earlier known as Northeast Utilities, engages in the energy delivery business. The company was founded in 1927. It transmits and delivers electricity and natural gas to over 3.7 million residential, commercial and industrial customers in Connecticut, New Hampshire and Massachusetts. Eversource Energy is currently trading under the ticker symbol “ES” instead of “NU”. The company’s headquarters have remained at Hartford, CT and Boston, MA.

ES is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 6.5% year-over-year for the current fiscal year, with sales growth of 5.5%.

Three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $4.11 per share for 2022. ES boasts an average earnings surprise of 0.1%.

On a historic basis, Eversource Energy has generated cash flow growth of 9%, and is expected to report cash flow expansion of 11.2% this year.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, ES should be on investors' short lists.


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