Davis said Crosstex has transformed its business over the past few years. He said the company now derives 90% of its revenue from fee-based services, up from just 70% a few years ago. Davis said Crosstex is also diversifying into new geographies and has lowered its exposure to natural gas from 90% to just 50%. Fee-based services, he explained, are far less volatile, which makes Crosstex a more consistent earner.
Davis said he is very confident in America's oil and natural gas business, which is why he's investing over $1 billion in new infrastructure. He sees strong industrial growth in America, especially over the next two to three years.
Cramer said that he's a big fan of this 8.5% yielder, and that as Crosstex grows there's no reason why its dividend shouldn't grow along with it.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer reminded viewers that hope should never be part of the investing equation.
He said that while companies like
both sounded more confident on their conference calls, and
went from having no hope to lots of hope on its call, he's still looking for more facts and data to support these new, higher stock prices.
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-- Written by Scott Rutt in Washington, D.C.
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