NEW YORK ( TheStreet) -- Idacorp (NYSE: IDA) hit a new 52-week high Wednesday as it is currently trading at $42, above its previous 52-week high of $41.97 with 154,655 shares traded as of 3:37 p.m. ET. Average volume has been 325,700 shares over the past 30 days.

Idacorp has a market cap of $2.02 billion and is part of the utilities sector and utilities industry. Shares are up 12.8% 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 11.3, 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 solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Idacorp Ratings Report.

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