NEW YORK ( TheStreet) -- Idacorp Incorporated (NYSE: IDA) hit a new 52-week high Wednesday as it is currently trading at $39.06, above its previous 52-week high of $39.02 with 31,038 shares traded as of 10:41 a.m. ET. Average volume has been 228,000 shares over the past 30 days.

Idacorp has a market cap of $1.9 billion and is part of the utilities sector and utilities industry. Shares are up 4.5% year to date as of the close of trading on Tuesday.

IDACORP, Inc., through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, sale, and purchase of electric energy in the United States. The company has a P/E ratio of 12.9, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 16.7.
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TheStreet Ratings rates Idacorp as a buy. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Idacorp Ratings Report.

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