Gibson Energy just put Q3 2026 on the table with record adjusted EBITDA of CA$193m, and the immediate question for you is simple: Does the current share price near CA$34, after a steady climb over the past month, really reflect what was just reported?

The stock came into this release with a 30-day gain of about 8.6%, so expectations were already running hot. Record infrastructure EBITDA of CA$177m and stronger marketing results reset the story around earnings power, even as investors debate whether a P/E near 29.5x and an elevated payout ratio justify more enthusiasm or call for a cooler head.

Like the earnings strength at Gibson Energy but uneasy about paying a P/E near 29.5x for that payout profile? Compare this setup with our 4 high…