NEW YORK ( TheStreet) -- Idacorp (NYSE: IDA) is trading at unusually high volume Friday with 1.2 million shares changing hands. It is currently at four times its average daily volume and trading up $1.20 (+3.2%) at $39.05 as of 4:04 p.m. ET.

Idacorp has a market cap of $1.8 billion and is part of the utilities sector and utilities industry. Shares are up 2.4% year to date as of the close of trading on Thursday.

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 13.1, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Idacorp as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. 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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