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NiSource (NI) is a Top-Ranked Growth Stock: Should You Buy?

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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NiSource (NI)

NiSource Inc., a Merrillville, IN-based energy holding company, was founded in 1912. The company, together with its subsidiaries, provides natural gas, electricity and other products and services in the United States. Its operating subsidiaries deliver energy to nearly 4 million customers in six states — Ohio, Pennsylvania, Virginia, Kentucky, Maryland and Indiana.

NI 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 6.9% and 2.2% 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 to $1.71 per share. NI boasts an average earnings surprise of 6.8%.

NiSource is also cash rich. The company has generated cash flow growth of 9.4%, and is expected to report cash flow expansion of 10% in 2024.

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

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