Cramer Likes MWE

Jim Cramer said on CNBC's Mad Money, that he likes MarkWest Energy Partners, L.P. MWE because of its high dividend yield. MarkWest Energy (MWE) is a great defensive play, with a dividend yield of 8%. Cramer believes that the Dow Jones is moving in the thousand points range, and his upper limit is 10,700 points. Since we are getting close to this number, you should start thinking about defensive stocks with a high yield. MarkWest Energy Partners, L.P. (MWE) is engaged in the gathering, processing and transportation of natural gas, and it doesn't have to worry about new discoveries of natural gas. Its pipelines are necessary to deliver natural gas to the market. Cramer added that everyone believes that MWE has a great management. MarkWest (MWE) is an important player in Marcellus Shale and in the entire Appalachian basin. MarkWest (MWE) gets 39%-44% of its income from fee based business, and it is planning to increase this number to 50% by 2012. MWE has some exposure to natural gas prices, but it is well hedged. This means that its earnings are safe, and so is its dividend.