Wall Street analysts continue to get more positive on pipeline stocks, TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment Friday.

That makes sense, because the industry is likely to go through more consolidation, he reasoned. But even more importantly, they have the green light on deregulation.

While deregulation seems to be falling off the radar for many investors, this industry is perhaps benefiting the most, Cramer said. These companies are now working so quickly and they are doing "fabulously," he reasoned.

Specifically speaking, Cramer pointed out Williams Partners (WPZ) , which continues to deleverage via asset sales, which can help its cash flows.

The MLP space remains quite attractive to Cramer, who says many of these companies have a winning formula in place. Deregulation only helps their case.

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At the time of publication, Cramer's Action Alerts PLUS had no position in any companies mentioned.