Cramer: This Stock Idea is All Wet

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The following stock idea is all wet and Cramer couldn't be more delighted!

That's because the stock in the spotlight is Aqua America, a water services company.

Looking at the performance, there's every reason to soak up the numbers. "The stock has been on a fabulous tear over the last five months gaining more than 25% ytd," Cramer said.

That's pretty impressive for a utility stock. Over the same period Microsoft is also up 25%, Bank of America is up 14% and Caterpillar is down.You don't typically see a utility doing as well if not better than the blue chips listed here.

And Cramer thinks there may be every reason to sip on this stock for some time to come.

Michael Blann | Digital Vision | Getty Images

1) Growth: "You might think the water business is about as boring as you can get, but the truth is that being a private sector water utility comes with a lot of opportunities, as this is a highly fragmented industry," he said. "Aqua America has racked up some impressive growth simply by making a lot of small acquisitions."

2) Derivative: Cramer notes that in addition to standard drinking water – this stock may also be a second derivative play on the explosion of domestic energy finds in the United States. "They also provide water for hydraulic fracturing, the drilling technique that has unlocked all of these new domestic oil and gas finds, in Pennsylvania's Marcellus shale," he said.

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3) Dividend: "Aqua America just reported a better than expected quarter back on May 2nd, and then last week the company announced a 9% dividend boost, bringing the yield up to 2.34% at these levels."

As we said above, Aqua America is a stock idea that's all wet and Cramer simply couldn't be more delighted. "If you're looking for a water stock this is a good one."

Call Cramer: 1-800-743-CNBC

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