On Mad Money on Thursday night, Jim Cramer highlighted two of his favorite energy MLPs which he stated could be a good antidote for possible "froth" in the market. These two plays are summarized below and could be solid pickups for investors looking for long term income plays. They also should be able to continue to ride the huge energy boom that is quickly moving the United States toward energy independence.

Enterprise Products Partners L.P. (EPD) provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, refined products, and petrochemicals in the United States and internationally. The company operates ~16,700 miles of natural gas liquid pipelines; NGL and related product terminal and storage facilities with approximately 159.1 million barrels of net usable storage capacity (MMBbls); and 14 NGL fractionation plants. The company's Onshore Natural Gas Pipelines & Services segment operates approximately 19,900

First-quarter revenues of S&P companies that have reported so far are running flat/slightly negative vs. the same quarter of 2012. One area that is still showing robust sales increases is the small and mid-cap domestic E&P space. One of the key reasons I am very positive on the prospects for this sector is that it offers significant growth potential at more than reasonable valuations. Here are two of my favorites picks in the E&P space.

Oasis Petroleum (OAS) is an independent exploration and production company that engages in the acquisition and development of oil and natural gas resources in the Montana and North Dakota regions of the Williston Basin.

Here are four reasons why OAS is a good growth pick at $38 a share:

1. The company is projected to have over 50% revenue growth this year and more than 25% sales increases in FY 2013. The stock sports a

Yield continues to get harder to find at a reasonable price. Both the seven month old rally and the massive liquidity pumped into the market by the Fed have left many of the traditional avenues to high yield (bonds, utilities, consumer staples) looking stretched from a valuation perspective and providing yield at a much lower level than historical norms. An income investor must look to other sectors that are not usually associated with high dividends in order to attain yield at reasonable valuations. Here are two 4% plus yielders that I have in my own portfolio that look solid both on a yield and valuation perspective.

Cypress Semiconductor (CY) - Cypress Semiconductor Corporation designs and manufactures mixed-signal, programmable solutions, specialized semiconductor memories and integrated semiconductor solutions.

Four reasons CY is a good value/income play at $11 a share:

1. The stock yields 4.1% and the company raised its payout more than

Back at the end of October I penned a piece titled "Apple Versus Microsoft: The Tide Is Turning." The article postulated that Microsoft's long underperformance versus Apple could well be coming to an end. At the time Apple (AAPL) was selling at ~$600 a share and Microsoft (MSFT) was going for ~$28.50 a share. The performance of two tech giants could not be more different since that piece appeared (see chart).

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Apple had been in a consistent decline mode until recently. Its announcement in mid-April that it would increase its stock repurchase program by a record $50B and would also raise its dividend by some 15% arrested its sell-off. The news that Apple will be returning ~$100B to shareholders by 2015 provided the biggest two-week boost to the stock since 2009. However, the stock has pulled back over the last couple of trading sessions even

Long time readers of my columns know that I have been a big bull on Cisco Systems (CSCO) for quite some time. The networking giant disclosed after the bell an earnings report that confirmed my optimism. It's three plus percent yield and growing dividend payout is the primary reason it is a core holding in my income portfolio. These results should prove to be an inflection point to move the stock significantly higher.

Key highlights from Cisco's earnings report:

• Earnings came in at 51 cents a share, two cents above consensus estimates.
• Revenues also exceeded consensus by some $20mm.
• Data center growth was particularly impressive clocking in with more than 70% sales increases.
• Emerging markets grew some 13% Y/Y.
• Even public sector growth came in with positive growth of 5% despite worries about "sequester" cuts.
• Cisco's CEO John Chambers also stated that the U.S. economy is slowly

The market added to its gains over the last seven months on Tuesday, with the indices up ~1% across the board. The market's rise has been impressive given the economy continues to be stuck around at the 2.1% average quarterly GDP growth we've averaged since it bottomed in early 2009 (the average growth out of the last nine recessions over a comparable time frame is 4.4%), Europe is in a continuous contraction (the longest in eurozone history), and domestic job growth remains sluggish. Even China is not having as robust growth as it has in the past. In addition, revenues were basically flat year over year in the first quarter for S&P companies reporting. Although housing is recovering and auto production is getting close to precrisis levels, the main driver of the rally both in the markets and in real estate is massive easing efforts of the Federal Reserve.

Insider buying is down markedly from the levels of this time in 2012. This is a natural consequence of the market being much higher after a significant rally. Insider selling has also picked up as officers take advantage of the rise in their vested shares and ring the cash register. This makes the few insider buys more relevant when they do occur in my opinion. I recently noticed insider buying in two $6 energy concerns, one of which is already in my portfolio.

Key Energy Services (KEG) operates as an onshore rig-based well servicing contractor in the United States and internationally. The company offers rig-based services, including the maintenance, workover, and recompletion of existing oil and gas wells; completion of newly-drilled wells; and plugging and abandonment of wells at the end of their lives.

4 reasons KEG has upside from just over $6 a share:

1. Several insiders have bought

Macy's (M), the iconic American retailer, recently hit an all-time high. The company has benefited greatly from the troubles at J.C. Penney (JCP). However, even at recent highs the shares still sport a reasonable valuation. The company has also picked up some recent positive catalysts and the shares are still a buy before earnings tomorrow.

Some recent catalysts for Macy's:

• Deutsche Bank came out yesterday reiterating its "Buy" rating and raised its price target from $47 to $53 a share.
• TheStreet also reiterated its "Buy" rating in late April.
• Maxim Group initiated the shares as a "Buy" in February.
• The move to tax internet retailers that recently passed the Senate should help Macy's be more price competitive on the margin.
• Consensus earnings estimates for both FY2013 and FY2014 have ticked up over the last three months.

4 additional reasons M still looks good at under $47

After a pretty continuous rally over the past seven months, value and yield are even harder to find that they were earlier in the year. I am running my portfolio in a much more conservative manner than I was when I was more aggressive during the post-election decline. I have sold some of my more aggressive growth stocks that have had huge run ups since November and added to the value/income side of the ledger. These provide solid yield and should hold up better should we have a significant pull back in the market during the second quarter or summer a la 2010, 2011 & 2012. Here are two three percent yielders that I have been adding to recently.

Ensco (ESV) - This $14B market capitalization firm provides offshore contract drilling services to the oil and gas industry worldwide. The stock yields 3.3% and distributes its payout monthly. The

One of the secrets of being a good investor -- and hopefully a decent columnist -- is to do a huge amount of research. There are very few weeks that I do not read 15 to 25 hours of both online and offline content related to the markets, economic reports, individual companies and industry specific commentaries. Sometimes good ideas can come from in-depth pullouts like the "Energy Upheaval" in May's Bloomberg Markets. Other times, they can come from blips in magazines or online financial sites.

One such "blip" I came across this weekend concerned TriQuint Semiconductor (TQNT), a $6 component supplier to Apple (AAPL) and other smart phone manufacturers. The firm has been a holding in my portfolio since it was selling at under $5 a share. There was a brief write up on the company in this week's Barron's.

The news -- Starboard Value has taken

Operators of hotels have been solid performers over the last six months. Major players like Starwood (HOT) and Marriott (MAR) have easily outperform the overall market (see chart). Both occupancy levels and RevPAR continue to improve for the sector. The industry is also benefitting from the lack of new property builds during the financial crisis and its immediate aftermath. A lot of the larger firms in the industry have moved to an "asset light" model, but I prefer companies right now that own their properties. I believe these properties' values will increase much faster than overall inflation as Federal Reserve policies continue to ignite asset inflation in equities and real estate. I also like some of the operators for the solid dividend yields they provide. Here are two operators that investors looking for income and as an inflation play should consider.

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Chatham Lodging Trust (CLDT) -

Goldman Sachs listed its top 40 most undervalued stocks the other day. At the top of the list was Marathon Petroleum (MPC), which Goldman stated had more than 55% possible upside. I don't know MPC has that much upside in it over the short term, but the shares do seem woefully undervalued and I have it in my own portfolio.

Marathon Petroleum engages in refining, transporting, and marketing petroleum products primarily in the United States. In addition to its refineries, the company has ownership interests in approximately 8,200 miles of crude oil and refined product pipelines. It also operates ~5,000 Marathon branded retail outlets and ~1,500 convenience stores in the United States.

Here are seven reasons why Marathon has significant upside from just over $76 a share:

1. Analysts expect better-than-15% revenue growth for FY 2013. The stock has a five-year projected PEG of under 1 (.69).
2. A good portion

Goldman Sachs released its top 40 stocks with the most potential upside this week. Roughly half were in the energy sector. This makes sense given the valuations in the sector, the huge expansion of domestic energy production and given the sector has underperformed the market over the last six months of the rally. Two drillers that look particularly cheap given their growth prospects are highlighted below.

Noble Corporation (NE) is as an offshore drilling contractor for the oil and gas industry. The company offers contract drilling services for oil and gas wells.

4 reasons NE is a bargain at $40 a share:

1. I last wrote about Noble when it traded at $34 a share in November. It is still cheap here at 9x 2014's projected earnings.
2. Analysts expect revenues to grow better than 20% in both FY2013 & FY2014 and the stock sells for a five year projected

Apple (AAPL) recently posted its best two week performance since 2009 posting a gain of ~15% from its recent lows in the $380's on April 19th. The stock has regained the mantle of the most valuable company in the world by market valuation and its recent rise has been much ballyhooed by the financial media. Less noticed is the rise of the some of the stocks of the smart phone suppliers that provide components to Apple and other manufacturers over the last five trading sessions (See Chart). I think they are moving in sympathy with the giant from Cupertino. Here are two smartphone suppliers that are making my nice moves and are still cheap.

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Skyworks Solutions (SWKS) offers analog and mixed signal semiconductors worldwide. The company provides power amplifiers and front-end solutions smart phones.

4 reasons SWKS has upside from $23 a share:

1. Analysts expect revenues to

Another day, another two refinery stocks crushing expectations in delivering their earnings results. The significant sell-off from mid-March through April in the sector appears substantially overdone, as about every company in the sector has easily beat consensus estimates on the top and bottom lines. The stocks have generally moved significantly higher after quarterly results. The doubters who cited a declining crack spread for their pessimism months ago will have to re-evaluate after this earnings season. Here are two more cheap refiners that overdelivered in the first quarter.

Alon USA Energy (ALJ) engages in refining and marketing petroleum products primarily in the south central, southwestern, and western regions of the United States. The company operates in three segments: refining and marketing, asphalt, and retail. It operates some 300 gas/retail convenience stores located in central and western Texas, and New Mexico.

Earnings: EPS for the quarter came in at 86

Global Partners L.P. (GLP) delivered solid results when it reported earnings this morning. GLP is a unique limited partnership that provides a great yield as well as solid, steady growth opportunities. It is the type of energy partnership that makes up a good portion of my income portfolio. Yield investors should take a hard look at the shares for possible inclusion on the income side of their investments.

Here are key highlights from GLP's earnings report:

• Earnings per share came in at 51 cents, 6 cents above consensus estimates.
• Revenue came in at $5.6 billion, a whopping $1.3 billion above expectations.
• EBITDA doubled Y/Y to $38.8 million.
• Distributable cash flow was $26.6 million, up 276% Y/Y.

Global Partners LP distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It has a portfolio of approximately 1,000 owned,

Continental Resources (CLR) reported earnings after the bell. The results showed huge production growth and a beat against bottom line expectations. Revenues did come in light and the stock is down almost 2% in after-hours trading. I would use any pullback in Thursday's trading to add shares on this fast growing Bakken producer.

Key highlights from Continental earnings report:

• Earnings per share came in at $1.17, four cents above estimates.
• Average production rose ~42% Y/Y to 121.5 BOE/D (Barrels of Oil Equivalent/Day).
• Oil & Liquid production rose to 71% of total production and overall oil production was up ~44% Y/Y.

Continental Resources produces crude oil and natural gas. It is the biggest producer of energy from the fast rising Bakken reserve.

5 additional reasons is a solid growth play at under $84 a share:

1. The company is a growth juggernaut. Analysts expect revenues to post better than a 35% CAGR

Although I still believe the market will have a second quarter "Hiccup" over the next few months as it did in 2010, 2011 & 2012; the sentiment and momentum in this TINA (There Is No Alternative) market driven by the Federal Reserve appears to be still up. As Chuck Prince of Citigroup said in 2007, "As long as the music is playing, you got to get up and dance". In that vein, here are three stocks that are priced around $6 a share that should do well as long as no one kills the DJ. I own them all.

ION Geophysical Corporation (IO) is a small cap energy services firm that provides geophysical technology, services, and solutions for the oil and gas industry internationally.

4 reasons IO has upside from just over $6 a share:

1. An insider just bought over $650K of the shares. It

The refiners are starting to recover from a swoon that started in late March as a result of concerns of a narrowing crack spread. The sector also needed to consolidate after a huge run in 2012/early 2013. This was a predictable move down with I highlighted in Mid-March when I advocated to lighten up on the refiners. I have been adding to these positions over the last few weeks as the sell-off got overdone and some of the major players in the industry like Valero (VLO) started to report results that beat expectations on the top and the bottom lines. I also like the long term prospects for the refinery sector due to continued domestic oil production expansion as well as huge obstacles (EX, E.P.A.) to building new domestic refinery capacity.

I would still like Valero to continue to bounce back, but my favorite plays in the sector

Much has been written on Apple's (AAPL) breakout since its recent lows in the $380s. The company has posted its best two weeks of trading since 2009, rising ~20% since its intraday lows of $385 on April 19. Its recently announced $60 billion buyback and 15% dividend increase seem to have put a floor under the stock, and has also driven a measurable improvement in sentiment on the shares. This is starting to be reflected in analysts' comments and ratings. Barclay's lifted its price target the other day to $525 a share from its previous target of $465, as its analyst believes the "Apple narrative is changing and shares could rally above $500 in short order." Barron's also just ranked the company No. 1 on this week's magazine cover out of the strongest 500 firms it ranked for "stellar operating performance." Given that, even after its recent