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Cramer’s High-Yielding Oil & Gas Name

Despite Monday’s rally, this is still a market where caution pays and huge dividends work, Cramer said. And you don’t get much more cautious than MarkWest Energy Partners, which he thinks is a buy at these levels.

The master limited partnership has an “astounding” 6.2 percent yield that the “Mad Money” host thinks can be increased for years to come.

While master limited partnerships like MarkWest have been some of Cramer’s favorite names in this choppy environment, there’s another reason MWE has landed on his radar. The company, which provides natural gas gathering, transportation, processing and fractionation services, had a secondary offering last week, and has sunk down to levels where he thinks it is really attractive.

“Halloween is not till the end of the month, so it's way too early to be spooked by this equity offering,” he said. “MarkWest should now have the capital it needs to finance some truly terrific growth projects. As a result, the company should be able to boost its already hefty distribution by 10 percent or more for years to come.”

MarkWest has operations all over the country. It is the largest natural gas processor and fractionator in the Appalachian basin and has gathering and processing assets in several shale formations in the southwest. It also has a bunch of new projects in the pipeline.

“MarkWest isn't a dazzler, but it sure ensures against despair when it comes calling again sometime soon,“ Cramer said. “And that yield? It’s heavenly compared to Treasuries, CDs or almost every other stock out there.”

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