(NML) Neuberger Berman MLP - Ratings and Ratios
Energy Infrastructure, Midstream Assets, Pipelines, Storage Terminals
Description: NML Neuberger Berman MLP October 25, 2025
Neuberger Berman MLP (NYSE MKT: NML) is a U.S.-based energy-focused limited partnership that provides investors exposure to a diversified portfolio of midstream energy assets, primarily pipelines and related infrastructure.
Key performance indicators to watch include the fund’s distribution yield (currently around 7.5% annualized), its adjusted funds from operations (AFFO) growth rate (≈ 4% YoY over the past 12 months), and the net asset value (NAV) per unit, which has trended modestly higher than its market price, indicating a modest discount that may present a buying opportunity.
Sector drivers that materially affect NML’s outlook are natural gas price volatility, regulated tariff adjustments by the Federal Energy Regulatory Commission (FERC), and the broader U.S. energy transition that is increasing demand for midstream capacity to transport both fossil fuels and growing volumes of renewable natural gas.
Given the fund’s sensitivity to interest-rate movements, a rise in Treasury yields could pressure its unit price, while a flattening yield curve typically benefits MLPs by lowering financing costs for new pipeline projects.
For a deeper quantitative dive, you might explore ValueRay’s proprietary analytics on NML’s cash-flow stability and discount-to-NAV trends, which can help you assess whether the current market pricing reflects the partnership’s underlying asset value.
NML Fund Overview
| Market Cap in USD | 382m |
| Style | Energy Limited Partnership |
| TER | 1.98% |
| IPO / Inception | 2013-03-26 |
NML Fund Ratings
| Growth Rating | 57.9% |
| Fundamental | - |
| Dividend Rating | 93.8% |
| Return 12m vs S&P 500 | -11.6% |
| Analyst Rating | - |
NML Dividends
| Dividend Yield 12m | 8.48% |
| Yield on Cost 5y | 40.70% |
| Annual Growth 5y | 25.68% |
| Payout Consistency | 86.3% |
| Payout Ratio | % |
NML Growth Ratios
| Growth Correlation 3m | -35% |
| Growth Correlation 12m | 8.1% |
| Growth Correlation 5y | 97.8% |
| CAGR 5y | 16.17% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.96 |
| CAGR/Mean DD 3y (Pain Ratio) | 3.75 |
| Sharpe Ratio 12m | 1.03 |
| Alpha | -7.51 |
| Beta | |
| Volatility | 22.21% |
| Current Volume | 357.8k |
| Average Volume 20d | 223.3k |
| Stop Loss | 7.9 (-3.8%) |
| Signal | -0.03 |
What is the price of NML shares?
Over the past week, the price has changed by +0.74%, over one month by -5.18%, over three months by -4.33% and over the past year by +7.37%.
Is Neuberger Berman MLP a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of NML is around 9.05 USD . This means that NML is currently undervalued and has a potential upside of +10.23% (Margin of Safety).
Is NML a buy, sell or hold?
What are the forecasts/targets for the NML price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 10.1 | 23.4% |
NML Fundamental Data Overview October 30, 2025
Beta = None
Revenue TTM = 0.0 USD
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 382.4m USD (382.4m + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 382.4m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 382.4m / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 8.94% (E(382.4m)/V(382.4m) * Re(8.94%) + (debt-free company))
Discount Rate = 8.94% (= CAPM, Blume Beta Adj.)
Fair Price DCF = unknown (Cash Flow 0.0)
Additional Sources for NML Fund
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle