Boardwalk Pipeline +3% as Cramer endorses

|About: Boardwalk Pipeline Partners... (BWP)|By:, SA News Editor

Boardwalk Pipeline Partners (NYSE:BWP+3% premarket, apparently thanks to Jim Cramer's recommendation on last night's MadMoney as a growth pipeline play and potential takeover target.

Cramer likes BWP's $1.2B spent on acquisitions over the past two years, which should generate great synergies, and thinks new projects underway, such as plans to reverse a pipeline between Ohio and Louisiana, could boost the bottom line.

BWP sold off earlier in the year when it announced plans to cut its distribution, but he believes BWP made the right decision: "By investing in growth, they'll be able to boost the distribution much more dramatically once these investments start paying off."

Also, "with Kinder Morgan buying up all of its master limited partnership subsidiaries, I can see someone buying Boardwalk, too," Cramer adds.