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Cramer Says Buy Spectra Energy (SE) In The "Year Of Natural Gas"
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Last night, on Mad Money, Jim Cramer recommended that his viewers pick up some Spectra Energy (NYSE: SE). He said that Spectra is a smaller natural gas play that is not as volatile as some of the other larger stocks he has previously recommended.
Spectra helps transmit natural gas and gets the natural gas where it needs to go. Spectra has amassed over 58,000 miles of gathering and processing pipes, along with 18,000 miles of transmission pipelines.
Spectra doesn't drill, it has infrastructure. It helps companies like Apache (NYSE: APA) and Chesapeake (NYSE: CHK) get their product to market.
Cramer likes that Spectra has $3 billion worth of projects in the works. He also noted that with coal being out of favor, natural gas is the logical alternative.
Spectra currently sports a 3.5% dividend yield, a $600 million stock buyback is in place and Jimmy noted that Spectra is trading at a discount to its peers. Cramer thinks that in this "year of natural gas," Spectra will produce handsome profits and should be bought.
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