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

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

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

CenterPoint Energy (CNP)

Incorporated in 2002, Houston, TX-based CenterPoint Energy Inc. is a domestic energy delivery company that provides electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. The company maintains the wires, poles and electric infrastructure serving more than 2.5 million metered customers in the greater Houston area and in southwestern Indiana. CenterPoint Energy also owns and operates nearly 1,300 megawatts of electric generation capacity in Indiana. In December 2021, CenterPoint decided to reduce the midstream exposure following the completion of Enable Midstream Partners, LP’s merger with Energy Transfer. CenterPoint’s 53.7% of Enable common units converted into 201 million ET common units. In February and March 2022, CenterPoint Energy completed the execution of its previously announced plan to exit the midstream sector by selling the remaining Energy Transfer Common Units and Energy Transfer Series G Preferred Units.

CNP 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 8.7% and 8.5% year-over-year, respectively.

Two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $1.63 per share for 2024. CNP boasts an average earnings surprise of 2.2%.

On a historic basis, CenterPoint Energy has generated cash flow growth of 6%, and is expected to report cash flow expansion of 8.7% this year.

Investors should take the time to consider CNP for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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