Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways.
Magellan Midstream Partners (MMP) - Get Report : Cramer has been telling investors to steer clear of the pipeline stocks for more than a year now, while falling energy prices put a lid on the group's pricing power and slashed their bountiful dividends. But a big shift has occurred for the pipeline companies, and that shift is Donald Trump.
Trump is about as pro-fossil fuel as you can get, Cramer said, and that's cause enough to circle back to the group and buy some Magellan Midstream Partners, a recently added Action Alerts PLUS holding.
Unlike many pipeline MLPs, Magellan is largely fee-based, deriving 85% of its revenue from services that don't rely on the price of crude or its derivatives. The company also has among the lowest cost of capital and a safe 4.5% yield with a long history of raising distributions.
Even with the stock up 12% since the election, Cramer said, Magellan has a lot of room to move. The company just approved a $750 million secondary offering and Cramer said that will make a terrific entry point into this superior pipeline operator, even with shares just off their 52-week highs.
Did you forget someone on your gift list? Or maybe you deserve a nice present for yourself. Give the gift that keeps on giving: A 1-year subscription to Action Alerts PLUS. And free with your gift order, you'll get a signed copy of Cramer's book, "Get Rich Carefully."
Costco (COST) - Get Report : It's no secret that Cramer's a big fan of Costco. Not only does he shop there on the weekend, he also owns the stock for Action Alerts PLUS. But after a lousy 2016 in which shares have risen just a scant 1% -- they're now up more than 20 points since the election.
Cramer said that's because Costco's bumpy transition from American Express to Visa (V) - Get Report is finally behind it and the company announced that over one million new Visa cards have been issued. Costco is also benefiting from the end of deflationary food and gasoline prices.
But more important, this quarter also marks the one-year anniversary of Costco's decision to stop selling cigarettes. Beginning next quarter, the same store comparisons get a lot easier.
Costco has plenty of other positives for 2017 as well, including a likely membership price increase, a special dividend payout and a customer base that remains loyal no matter what the economic environment.
With shares trading for 27 times earnings, Costco is far from cheap, Cramer admitted, but with a major turn in same-store sales coming, the estimates are likely far too low for this stellar retailer.
To read a full recap of "Mad Money" on CNBC, click here.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.
At the time of publication, Cramer's Action Alerts PLUS had positions in MMP, COST and V.