Since the beginning of the fourth quarter, Jim Cramer has seen that some of the most hated groups in the stock market have suddenly become the most loved. This was especially the case with the oil complex, and with Monday's price of crude on the decline, this could be a fantastic entry point for the group.
That was why Cramer decided to dig in and find a few energy stocks that offer lower risk and high-quality names, letting investors sleep at night. Cramer's favorite pipeline play at the moment is Energy Transfer Partners, the master limited partnership subsidiary of Energy Transfer Equity.
Cramer likes this stock not only because it has a whopping 9 percent yield, but also because he thinks it is tremendously undervalued. Energy Transfer was crushed this year by lower oil and natural gas prices, fears of the Federal Reserve raising rates and the third quarter sell-off driven by damaged hedge funds with too much energy exposure.
But now that oil has rebounded to $48 a barrel and the Fed is on hold for the moment, Cramer thinks Energy Transfer Partners will fly higher.