Stocks only a short could love
The highest price-earnings ratio belongs to Legacy Reserves LP, an oil and natural gas specialist. The past year, Legacy's earnings totaled a penny a share as two losing quarters almost canceled out two profitable ones. The stock trades for about $29 a share. The trailing 12-month P/E is about 2,900. Yes, 2,900.
As with many energy partnerships, Legacy's main charm is its dividend yield, currently 7.2%. Still, I consider the shares overpriced. In addition to that startling P/E, the price-to-sales ratio is high, at 5.7.