3 great value growth stocks: Origin Energy Ltd, AMP Limited and Wesfarmers Ltd

These 3 stocks offer growth at a very reasonable price: Origin Energy Ltd (ASX:ORG), AMP Limited (ASX:AMP) and Wesfarmers Ltd (ASX:WES).

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Growth stocks come in all shapes and sizes. Indeed, it's not just technology and resource companies that offer great growth stories, companies in the financial, retail and energy sectors can also post stunning bottom line growth numbers. And, if you can buy them at a decent price then they can make a major impact on your portfolio.

Here are three examples of great value growth shares that you need to know about.

Origin Energy Ltd

Despite its credit rating being placed on review by Moody's, Origin Energy Ltd (ASX: ORG) still has a bright future. In fact, the explorer and supplier of energy is forecast to increase its bottom line at an annualised rate of 25.2% over the next two years. This is roughly four times the expected growth rate of the wider index and highlights that Origin is an excellent growth play.

In addition, Origin trades on a relatively appealing price to earnings (P/E) ratio of 16.3, which is only moderately higher than the ASX's P/E ratio of 15.1. And, with Origin having such impressive growth potential, it seems to be worth paying a small premium for such appealing bottom line prospects.

AMP Limited

The last few years have been tough for AMP Limited (ASX: AMP), with the wealth management company seeing its bottom line fall significantly. In fact, over the last five years it has declined at a rate of 5% per annum, with its shares slumping by 14% during the period.

However, in the last year AMP's shares are up by 24% and that's because investors are looking to more profitable times ahead. For example, AMP trades on a price to earnings growth (PEG) ratio of just 0.5 and, as such, it seems to offer growth at a very reasonable price. Therefore, it would be of little surprise to see the company's share price move higher – especially as investors seem to be willing to bid up the prices of those stocks that can deliver strong growth during an uncertain economic period.

Wesfarmers Ltd

While the performance of Aldi has been impressive during the course of the last year, with its sales now increasing to $6 billion, owner of the Coles brand, Wesfarmers Ltd (ASX: WES), still offers an appealing growth story.

For example, over the next two years Wesfarmers is forecast to increase its bottom line at an annualised rate of 13.9%, which is an impressive rate of growth. And, with Wesfarmers trading on a P/E ratio of 20.6, it appears to offer growth at a reasonable price, given its excellent forecasts.

Furthermore, if interest rates are cut by the RBA this year then that rate of growth could be upgraded as consumers become more able to pay on credit and see their disposable incomes rise as a result of lower mortgage payments.

Motley Fool contributor Peter Stephens does not own shares in any of the companies mentioned

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