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Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick

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

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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NextEra Energy (NEE)

Juno Beach, FL-based NextEra Energy Inc. (previously known as FPL Group Inc.) is a public utility holding company engaged in the generation, transmission, distribution, and sale of electric energy. The company has both regulated and non-regulated energy-related products and services, with operations in 40 states in the U.S. and four provinces in Canada. NextEra Energy was founded in 1925. The company serves nearly 10 million people through approximately 5 million customer accounts.

NEE sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 7.6% and 2.1% year-over-year, respectively.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.01 to $3.41 per share. NEE boasts an average earnings surprise of 8.8%.

NextEra Energy is also cash rich. The company has generated cash flow growth of 10%, and is expected to report cash flow expansion of 19.6% in 2024.

NEE should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.

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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research