The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALTRIA GROUP INC. COM 02209S103 1,080 18,550 SH   SOLE   10,000 0 8,550
AMEREN CORP COM COM 023608102 3,166 73,245 SH   SOLE   73,245 0 0
AMERICAN ELEC PWR INC COM COM 025537101 4,487 77,012 SH   SOLE   77,012 0 0
AMERICAN TOWER REIT COM COM 03027X100 65,823 678,941 SH   SOLE   588,792 0 90,149
AMERICAN WATER WORKS COM 030420103 119,092 1,993,173 SH   SOLE   1,827,913 0 165,260
ANADARKO PETE CORP COM COM 032511107 2,310 47,550 SH   SOLE   37,650 0 9,900
ANNALY MTG MGMT INC COM COM 035710409 15,797 1,684,150 SH   SOLE   1,653,000 0 31,150
APPLE INC COM COM 037833100 304 2,889 SH   SOLE   0 0 2,889
AQUA AMERICA INC. COM 03836W103 5,185 174,000 SH   SOLE   174,000 0 0
AT & T INC. (NEW) COM 00206R102 49,768 1,446,334 SH   SOLE   1,438,359 0 7,975
ATMOS ENERGY CORP COM COM 049560105 23,902 379,156 SH   SOLE   301,541 0 77,615
AVANGRID, INC. COM 05351W103 14,682 382,350 SH   SOLE   369,850 0 12,500
BCE INC COM NEW COM 05534B760 47,794 1,237,552 SH   SOLE   1,237,552 0 0
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 5,542 41,975 SH   SOLE   1,100 0 40,875
BG GROUP PLC ADS COM 055434203 2,912 200,600 SH   SOLE   160,600 0 40,000
BT GROUP PLC ADR COM 05577E101 2,769 80,000 SH   SOLE   80,000 0 0
CAMERON INTL CORP COM COM 13342B105 1,556 24,625 SH   SOLE   14,300 0 10,325
CANADIAN PACIFIC LTD COM 13645T100 319 2,500 SH   SOLE   200 0 2,300
CENTURYLINK INC COM 156700106 1,176 46,740 SH   SOLE   30,790 0 15,950
CHARTER COMMUNCTNS DEL CL A COM 16117M305 85,069 464,604 SH   SOLE   416,674 0 47,930
CHEVRON CORPORATION COM COM 166764100 10,497 116,680 SH   SOLE   113,640 0 3,040
CIMAREX ENERGY COM 171798101 465 5,200 SH   SOLE   5,200 0 0
CMS ENERGY CORP COM COM 125896100 19,873 550,802 SH   SOLE   546,302 0 4,500
COGENT COMMUNICATIONS COM NEW COM 19239V302 18,613 536,557 SH   SOLE   459,467 0 77,090
COLUMBIA PIPELINE GRP INC COM 198280109 25,360 1,267,999 SH   SOLE   1,249,006 0 18,993
COMCAST CORP CLASS A COM 20030N101 66,620 1,180,569 SH   SOLE   1,058,476 0 122,093
COSTCO WHSL CORP NEW COM COM 22160K105 646 4,000 SH   SOLE   4,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 46,385 536,551 SH   SOLE   482,771 0 53,780
DEVON ENERGY CORP NEW COM COM 25179M103 7,611 237,850 SH   SOLE   194,550 0 43,300
DOMINION RES VA NEW COM COM 25746U109 95,875 1,417,424 SH   SOLE   1,300,179 0 117,245
DOW JONES U.S. TELECOMM SECTOR COM 464287713 255 8,870 SH   SOLE   7,975 0 895
DTE ENERGY CO COM COM 233331107 123,034 1,534,277 SH   SOLE   1,416,750 0 117,527
DUKE ENERGY CORP NEW COM NEW COM 26441C204 28,834 403,889 SH   SOLE   400,399 0 3,490
EDISON INTL COM COM 281020107 43,570 735,862 SH   SOLE   661,267 0 74,595
ENBRIDGE INC COM COM 29250N105 3,451 103,965 SH   SOLE   103,965 0 0
ENERGEN CORP COM 29265N108 6,276 153,099 SH   SOLE   122,599 0 30,500
ENERGY SELECT SECTOR SPDR COM 81369Y506 1,231 20,410 SH   SOLE   19,635 0 775
ENTERGY CORP NEW COM COM 29364G103 479 7,000 SH   SOLE   7,000 0 0
EQT CORP COM COM 26884L109 3,725 71,460 SH   SOLE   68,567 0 2,893
EVERSOURCE ENERGY COM 30040W108 47,811 936,188 SH   SOLE   936,188 0 0
EXXON MOBIL CORP COM 30231G102 30,358 389,458 SH   SOLE   315,587 0 73,871
FIRST SOLAR INC COM 336433107 8,150 123,497 SH   SOLE   102,312 0 21,185
FRONTIER COMMUNICATIONS CORP COM 35906A108 6,701 1,434,845 SH   SOLE   1,225,975 0 208,870
GENERAL DYNAMICS CORP COM COM 369550108 247 1,800 SH   SOLE   0 0 1,800
GENERAL ELEC CO COM COM 369604103 327 10,500 SH   SOLE   0 0 10,500
HALLIBURTON CO COM COM 406216101 206 6,045 SH   SOLE   6,045 0 0
HESS CORPORATION COM 42809H107 12,320 254,120 SH   SOLE   204,037 0 50,083
ITC HOLDINGS CORP. COM 465685105 138,043 3,517,026 SH   SOLE   3,263,363 0 253,663
JOHNSON & JOHNSON COM COM 478160104 247 2,400 SH   SOLE   0 0 2,400
KRAFT HEINZ CO COM 500754106 26,994 371,000 SH   SOLE   365,000 0 6,000
LEVEL 3 COMMUNICTIONS COM NEW COM 52729N308 38,141 701,638 SH   SOLE   622,993 0 78,645
LIBERTY GLOBAL PLC SHS CL A COM G5480U104 15,318 361,615 SH   SOLE   324,095 0 37,520
LIBERTY GLOBAL PLC SHS CL C COM G5480U120 3,504 85,950 SH   SOLE   43,300 0 42,650
NATIONAL GRID PLC SPON ADR NEW COM 636274300 60,602 871,476 SH   SOLE   835,421 0 36,055
NEXTERA ENERGY INC COM COM 65339F101 138,606 1,334,164 SH   SOLE   1,231,162 0 103,002
NEXTERA ENERGY PARTNERS LP COM 65341B106 11,025 369,350 SH   SOLE   342,000 0 27,350
NISOURCE INC COM COM 65473P105 28,771 1,474,671 SH   SOLE   1,446,321 0 28,350
OCCIDENTAL PETE CP DEL COM COM 674599105 27,471 406,318 SH   SOLE   351,156 0 55,162
ONE GAS INC COM COM 68235P108 16,125 321,400 SH   SOLE   297,000 0 24,400
ONEOK INC NEW COM COM 682680103 241 9,780 SH   SOLE   0 0 9,780
PATTERN ENERGY GROUP INC COM 70338P100 5,949 284,498 SH   SOLE   266,858 0 17,640
PG&E CORP COM COM 69331C108 7,617 143,206 SH   SOLE   128,831 0 14,375
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,276 14,518 SH   SOLE   9,500 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 19,557 303,298 SH   SOLE   283,871 0 19,427
PIONEER NAT RES CO COM COM 723787107 17,602 140,387 SH   SOLE   122,512 0 17,875
PPG INDS INC COM COM 693506107 553 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 60,093 1,760,715 SH   SOLE   1,666,955 0 93,760
ROYAL DUTCH SHELL PLC ADRS B COM 780259107 687 14,920 SH   SOLE   1,395 0 13,525
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 56,478 1,233,415 SH   SOLE   1,132,695 0 100,720
SBA COMMUNICATIONS CORP COM 78388J106 1,576 15,000 SH   SOLE   15,000 0 0
SCANA CORP NEW COM COM 80589M102 106,049 1,753,162 SH   SOLE   1,652,981 0 100,181
SCHLUMBERGER LTD COM COM 806857108 20,220 289,886 SH   SOLE   230,883 0 59,003
SELECT SECTOR SPDR-UTILITIES COM 81369Y886 388 8,975 SH   SOLE   8,145 0 830
SEMPRA ENERGY COM COM 816851109 95,791 1,018,946 SH   SOLE   948,261 0 70,685
SOUTH JERSEY IND COM 838518108 14,464 614,950 SH   SOLE   527,550 0 87,400
SOUTHERN CO COM COM 842587107 28,990 619,587 SH   SOLE   618,837 0 750
T-MOBILE US INC COM COM 872590104 36,174 924,703 SH   SOLE   885,618 0 39,085
TALEN ENERGY CORP COM 87422J105 582 93,461 SH   SOLE   92,833 0 628
TIME WARNER CABLE INC COM COM 88732J207 69,359 373,723 SH   SOLE   355,037 0 18,686
UNION PAC CORP COM COM 907818108 81,983 1,048,381 SH   SOLE   968,561 0 79,820
VERIZON COMMUNICATIONS COM COM 92343V104 92,670 2,004,984 SH   SOLE   1,884,929 0 120,055
VODAFONE GROUP PUBLIC LTD CO A COM 92857W308 12,181 377,573 SH   SOLE   365,738 0 11,835
WEC ENERGY GROUP INC COM COM 92939U106 45,523 887,206 SH   SOLE   878,602 0 8,604
WELLS FARGO & CO NEW COM COM 949746101 489 9,000 SH   SOLE   0 0 9,000
WESTAR ENERGY INC. COM 95709T100 5,935 139,940 SH   SOLE   139,940 0 0
WILLIAMS COS INC COM COM 969457100 47,621 1,852,960 SH   SOLE   1,670,514 0 182,446
ENTERGY MISS INC PFD P 6.25% PFD 29364N850 254 10,000 SH   SOLE   10,000 0 0
ENTERGY NEW ORLEANS INC 4.36% PFD 29364P202 428 4,500 SH   SOLE   4,500 0 0
WELLS FARGO CO PFD 8% PFD 949746879 404 14,389 SH   SOLE   1,350 0 13,039
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 6,854 979 SH   SOLE   979 0 0
ENBRIDGE ENERGY PARTNERS LP LP 29250R106 3,461 150,000 SH   SOLE   150,000 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 35,523 1,388,705 SH   SOLE   1,356,005 0 32,700
MPLX LP COM UNIT REP LTD LP 55336V100 2,572 65,400 SH   SOLE   65,400 0 0
SHELL MIDSTREAM PARTNERS LP LP 822634101 1,453 35,000 SH   SOLE   35,000 0 0
TALARA OPPORTUNITIES II, LP LP 874111111 2,431 40,519 SH   SOLE   40,519 0 0
WILLIAMS PARTNERS L P COM UNIT LP 96949L105 3,630 130,344 SH   SOLE   130,344 0 0
TELUS CORPORATION COM 87971M103 6,335 230,000 SH   SOLE   230,000 0 0
BT GROUP COM 3091357 9,733 1,400,000 SH   SOLE   1,400,000 0 0
NATIONAL GRID PLC COM B08SNH3 18,654 1,350,000 SH   SOLE   1,350,000 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 2,809 108,162 SH   SOLE 2 24 8 138
SOURCE CAP INC COM CEF 836144105 301 4,550 SH   SOLE   500 0 50
IENOVA COM B84XBP2 3,120 745,000 SH   SOLE   745,000 0 0