New York, January 27 (FinanceEnquiry.com) - American Electric Power Inc (NYSE: AEP) posted its fourth-quarter earnings that went up 75 percent on robust wholesale volume, though there was a decline in retail volume. Industrial volume went up by 1 percent in the latest quarter and the company gained from a manufacturing and mining rebound. 

The electric utility company reported a profit of $308 million, or 64 cents a share, up from $176 million, or 37 cents a share, a year earlier. It posted earnings that went up to 40 cents from 38 cents, excluding certain items. However, its revenue remained flat at $3.4 billion. Analysts had forecast earnings of 40 cents on the revenue of $3.45 billion. The company’s utilities segment reported 0.5 percent higher earnings.

A loss of $6 million was reported in its generating and marketing business, which includes non-regulated power operations that sell electricity at market rates and its risk management activities, compared with a profit of $8 million a year earlier. Wholesale volume went up 19%, whereas retail electricity volume dropped 2.2%. Shares that were inactive premarket closed Thursday at $41.28. The stock has risen 3.9% over the past three months.