Eaton has a long history of dominating its markets, said Cramer, and he sees no reason for that trend not to continue. Shares of Eaton currently trade at just 7.7 times earnings, while historically shares fetch on average 13.1 times earnings. With Eaton's exposure to the fast-growing energy efficiency and aerospace markets, Cramer said that Eaton is most certainly a buy at these levels.
Action Alerts PLUS . Warren said master limited partnerships have not been faring well in the markets as of late. He called it an "odd market" where an 8% yield is out of favor. That said, Warren admitted that Energy Transfer Partners has created a complicated story with a large acquisition and a drop-down of assets from its parent company. He said the company is working to simplify the balance sheet and will be answering many questions in the months to come. However, as a result of the asset reshuffling, Energy Transfer is in a "good position," said Warren, with assets in the right place at the right time. The company is still investing over $2 billion into new pipeline projects, he said, all of which will offer huge growth. "We continue to be a growth story," said Warren. Warren confirmed that his company will still need to issue equity to fund its growth, but added that the recent sale of its propane business has added to their cash position. With natural gas storage facilities starting to show supply and demand in balance, Warren expects growth to pickup soon. Cramer continued his recommendation of Energy Transfer Partners.