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

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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

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.

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 10%.

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

Looking at cash flow, Eversource Energy is expected to report cash flow growth of 11.2% this year; ES has generated cash flow growth of 9% over the past three to five years.

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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