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We've liked this since the first week of the show

It's that time again! The Lightning Round bell has rung, and Jim Cramer gives his take on a few favorite audience stocks:

Energy Transfer Partners: "I want to stick with it. It's got a 6 percent yield and I think that the company is fair ball over the last couple of years and made a lot of good moves. I've got no problem anymore with ETP."

Berkshire Hathaway: "This remains one of the strongest buys, we've liked it since the week the show began and and we still like it as much now."

Williams Companies: "Another one I really like. Good yield, good growth, that's exactly what you should be buying. It's down a lot because of oil, I think that's a mistake. I think it's a buy."

Targa Resources: "This is one that doesn't yield enough for the risk... there's not enough juice there to protect yourself."

Union Pacific: "This is the kind of stock I like coming down into this move. I want to be a buyer of Union Pacific. Buy half now and get a little in the sell off and then buy the rest."

Terex Corp: "It is too risky...I don't think you want the risk of Terex because it does have a worldwide business."

Precision Drilling: "Numbers are too high there because we still haven't seen the big estimate cuts in the actual drilling part of the operation. I like the master limited partnerships that have very limited exposure to the commodity, and of course I like KMI."

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Amec Foster Wheeler: "That is too related to the energy oil and gas segment ... I don't like these stocks, I still think the numbers are too high because the price of oil has come down and a lot of the big projects may get canceled."

Flowserve: "This is a pure industrial. If you're going to buy an industrial, it's an okay company. I prefer Honeywell to this one or even United Technologies if they do the shake up that I am calling for."

Magnum Hunter Resources: "I don't want you to bail out... I think these are great calls on the situation. It will be a 90 percent natural gas company next year, and I do not want to sell a natural gas company."

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