Convert to Paragraph Tags

I want to be able to quickly wrap textual content (with line breaks) into a number of paragraphs.

So I paste in 

Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Aenean commodo ligula eget dolor. Aenean massa.

Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus.

Donec quam felis, ultricies nec, pellentesque eu, pretium quis, sem. Nulla consequat massa quis enim.

and want to hit a single keystroke to convert it to

<p>Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Aenean commodo ligula eget dolor. Aenean massa.</p>

<p>Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus.</p>

<p>Donec quam felis, ultricies nec, pellentesque eu, pretium quis, sem. Nulla consequat massa quis enim.</p>

Is this possible in PHPStorm ?

I know that I can use Surround With and choose Emmett and enter p*

But surely there must be a quicker and slicker way ??