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Making PWR Moves

Tuesday, 15 Jul 2008 | 6:19 PM ET

If the Texas Public Utility Commission follows through on a massive wind-power infrastructure build out, then Quanta Services might be seeing a nice increase in business.

Cramer on Quanta
Getting bullish on Quanta Services, with Mad Money host Jim Cramer.

Quanta builds, repairs and maintains the transmission lines that the TPUC will need to connect remote wind farms to its main energy grid.

While no contracts will be awarded when the Commission meets Thursday to discuss the initiative, there's no doubt Quanta will be earning at least some of the expected $3 billion to $9 billion in spending. In fact, Cramer's expecting the company to be big winner here.

That's why he added the stock to his Mad Money Windex, a basket of wind-power stocks he uses to track the sector. He even said PWR is tradable and investable ahead of the Commission's Thursday meeting. He likes it under $29 a share.

It's not just Quanta's wind business that has Cramer excited, though.

Natural-gas services accounts for 17% of revenues, as does cable and telecom infrastructure. The Mad Money host's fervor for nat gas is widely known for anyone who watches the show, and triple-play communications --TV, phone, internet -- is still a hot business.

Even better, though, is Quanta's backlog: $5.2 billion. It's more than the market cap of the company itself, which is $5 billion.

GlobalSantaFe was in a similar position right before the company was acquired by Transocean .

Stay alert on Thursday for the TPUC meeting. And pay special attention to docket # 33672, the wind-power infrastructure energy build out. It could make you some mad money.

Jim's charitable trust owns Quanta Services.

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

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