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 1,162 18,550 SH   SOLE   10,000 0 8,550
AMEREN CORP COM COM 023608102 2,906 58,000 SH   SOLE   58,000 0 0
AMERICAN ELEC PWR INC COM COM 025537101 4,980 75,000 SH   SOLE   75,000 0 0
AMERICAN TOWER REIT COM COM 03027X100 63,502 620,319 SH   SOLE   546,639 0 73,680
AMERICAN WATER WORKS COM 030420103 104,979 1,522,978 SH   SOLE   1,416,047 0 106,931
AMERICAN WATER WORKS COM 030420103 289 4,186 SH   OTR 1 0 4,186 0
ANNALY MTG MGMT INC COM COM 035710409 18,000 1,754,425 SH   SOLE   1,706,150 0 48,275
APPLE INC COM COM 037833100 315 2,889 SH   SOLE   0 0 2,889
AQUA AMERICA INC. COM 03836W103 4,105 129,000 SH   SOLE   129,000 0 0
AT & T INC. (NEW) COM 00206R102 55,187 1,408,909 SH   SOLE   1,402,034 0 6,875
ATMOS ENERGY CORP COM COM 049560105 30,148 405,985 SH   SOLE   331,578 0 74,407
ATMOS ENERGY CORP COM COM 049560105 328 4,419 SH   OTR 1 0 4,419 0
AVANGRID, INC. COM 05351W103 17,970 448,014 SH   SOLE   422,643 0 25,371
AVANGRID, INC. COM 05351W103 207 5,166 SH   OTR 1 0 5,166 0
BCE INC COM NEW COM 05534B760 59,248 1,301,002 SH   SOLE   1,301,002 0 0
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 6,349 44,750 SH   SOLE   1,300 0 43,450
BP PLC SPONS ADR COM 055622104 2,007 66,500 SH   SOLE   66,500 0 0
BT GROUP PLC ADR COM 05577E101 1,925 60,000 SH   SOLE   60,000 0 0
CALIFORNIA RESOURCES CORP COM 13057Q107 269 260,951 SH   SOLE   255,686 0 5,265
CAMERON INTL CORP COM COM 13342B105 1,839 27,425 SH   SOLE   17,375 0 10,050
CENTURYLINK INC COM 156700106 9,016 282,090 SH   SOLE   280,790 0 1,300
CHARTER COMMUNCTNS DEL CL A COM 16117M305 93,529 462,031 SH   SOLE   417,676 0 44,355
CHEVRON CORPORATION COM COM 166764100 23,762 249,078 SH   SOLE   231,055 0 18,023
CIMAREX ENERGY COM 171798101 7,991 82,150 SH   SOLE   68,250 0 13,900
CMS ENERGY CORP COM COM 125896100 23,476 553,150 SH   SOLE   548,450 0 4,700
CMS ENERGY CORP COM COM 125896100 340 8,004 SH   OTR 1 0 8,004 0
COGENT COMMUNICATIONS COM NEW COM 19239V302 17,884 458,224 SH   SOLE   406,842 0 51,382
COLUMBIA PIPELINE GRP INC COM 198280109 32,118 1,279,616 SH   SOLE   1,265,576 0 14,040
COMCAST CORP CLASS A COM 20030N101 101,038 1,654,196 SH   SOLE   1,495,810 0 158,386
COMMUNICATIONS SALES & LEASING COM 20341J104 1,199 53,900 SH   SOLE   53,900 0 0
COSTCO WHSL CORP NEW COM COM 22160K105 630 4,000 SH   SOLE   4,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 58,069 671,316 SH   SOLE   598,924 0 72,392
DEVON ENERGY CORP NEW COM COM 25179M103 1,926 70,187 SH   SOLE   65,628 0 4,559
DOMINION RES VA NEW COM COM 25746U109 106,026 1,411,417 SH   SOLE   1,313,935 0 97,482
DOMINION RES VA NEW COM COM 25746U109 270 3,600 SH   OTR 1 0 3,600 0
DTE ENERGY CO COM COM 233331107 143,805 1,586,196 SH   SOLE   1,470,139 0 116,057
DTE ENERGY CO COM COM 233331107 491 5,414 SH   OTR 1 0 5,414 0
DUKE ENERGY CORP NEW COM NEW COM 26441C204 27,886 345,639 SH   SOLE   342,574 0 3,065
EDISON INTL COM COM 281020107 63,992 890,138 SH   SOLE   800,493 0 89,645
EDISON INTL COM COM 281020107 490 6,819 SH   OTR 1 0 6,819 0
ENBRIDGE INC COM COM 29250N105 219 5,625 SH   SOLE   5,625 0 0
ENTERGY CORP NEW COM COM 29364G103 555 7,000 SH   SOLE   7,000 0 0
EOG RES INC COM COM 26875P101 10,199 140,525 SH   SOLE   113,025 0 27,500
EQT CORP COM COM 26884L109 13,077 194,420 SH   SOLE   176,883 0 17,537
EVERSOURCE ENERGY COM 30040W108 60,339 1,034,263 SH   SOLE   1,020,963 0 13,300
EVERSOURCE ENERGY COM 30040W108 362 6,199 SH   OTR 1 0 6,199 0
EXELON CORP COM COM 30161N101 6,311 176,000 SH   SOLE   176,000 0 0
EXXON MOBIL CORP COM 30231G102 30,547 365,439 SH   SOLE   308,006 0 57,433
FIRST SOLAR INC COM 336433107 6,612 96,570 SH   SOLE   81,285 0 15,285
FRONTIER COMMUNICATIONS CORP COM 35906A108 11,660 2,085,800 SH   SOLE   1,780,173 0 305,627
GENERAL DYNAMICS CORP COM COM 369550108 236 1,800 SH   SOLE   0 0 1,800
GENERAL ELEC CO COM COM 369604103 334 10,500 SH   SOLE   0 0 10,500
HESS CORPORATION COM 42809H107 1,358 25,800 SH   SOLE   10,750 0 15,050
ITC HOLDINGS CORP. COM 465685105 99,815 2,290,910 SH   SOLE   2,170,765 0 120,145
JOHNSON & JOHNSON COM COM 478160104 260 2,400 SH   SOLE   0 0 2,400
KRAFT HEINZ CO COM 500754106 30,631 389,900 SH   SOLE   383,900 0 6,000
LEVEL 3 COMMUNICTIONS COM NEW COM 52729N308 29,999 567,620 SH   SOLE   493,673 0 73,947
LIBERTY GLOBAL PLC SHS CL A COM G5480U104 3,510 91,180 SH   SOLE   84,130 0 7,050
MARATHON PETROLEUM CORP COM 56585A102 17,966 483,218 SH   SOLE   397,856 0 85,362
NATIONAL GRID PLC SPON ADR NEW COM 636274300 52,103 729,528 SH   SOLE   696,523 0 33,005
NEXTERA ENERGY INC COM COM 65339F101 159,620 1,348,823 SH   SOLE   1,246,154 0 102,669
NEXTERA ENERGY INC COM COM 65339F101 893 7,544 SH   OTR 1 0 7,544 0
NEXTERA ENERGY PARTNERS LP COM 65341B106 11,845 435,650 SH   SOLE   375,500 0 60,150
NISOURCE INC COM COM 65473P105 33,544 1,423,786 SH   SOLE   1,397,010 0 26,776
NISOURCE INC COM COM 65473P105 264 11,226 SH   OTR 1 0 11,226 0
OCCIDENTAL PETE CP DEL COM COM 674599105 35,131 513,386 SH   SOLE   448,165 0 65,221
ONEOK INC NEW COM COM 682680103 292 9,780 SH   SOLE   0 0 9,780
PATTERN ENERGY GROUP INC COM 70338P100 2,839 148,865 SH   SOLE   134,965 0 13,900
PG&E CORP COM COM 69331C108 4,778 80,000 SH   SOLE   80,000 0 0
PG&E CORP COM COM 69331C108 491 8,219 SH   OTR 1 0 8,219 0
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,424 14,518 SH   SOLE   9,500 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 47,661 634,890 SH   SOLE   615,427 0 19,463
PINNACLE WEST CAP CORP COM COM 723484101 230 3,060 SH   OTR 1 0 3,060 0
PIONEER NAT RES CO COM COM 723787107 26,563 188,737 SH   SOLE   153,304 0 35,433
PORTLAND GEN ELEC CO COM NEW COM 736508847 8,616 218,183 SH   SOLE   177,246 0 40,937
PORTLAND GEN ELEC CO COM NEW COM 736508847 297 7,509 SH   OTR 1 0 7,509 0
PPG INDS INC COM COM 693506107 624 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 66,754 1,753,452 SH   SOLE   1,662,359 0 91,093
PPL CORP COM COM 69351T106 377 9,909 SH   OTR 1 0 9,909 0
ROYAL DUTCH SHELL PLC ADRS B COM 780259107 931 18,920 SH   SOLE   2,495 0 16,425
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 85,729 1,769,438 SH   SOLE   1,619,630 0 149,808
SCANA CORP NEW COM COM 80589M102 120,868 1,723,000 SH   SOLE   1,634,648 0 88,352
SCANA CORP NEW COM COM 80589M102 372 5,304 SH   OTR 1 0 5,304 0
SCHLUMBERGER LTD COM COM 806857108 20,394 276,534 SH   SOLE   219,148 0 57,386
SEMPRA ENERGY COM COM 816851109 118,796 1,141,725 SH   SOLE   1,058,393 0 83,332
SEMPRA ENERGY COM COM 816851109 523 5,029 SH   OTR 1 0 5,029 0
SOUTH JERSEY IND COM 838518108 15,788 554,950 SH   SOLE   473,850 0 81,100
SOUTHERN CO COM COM 842587107 34,594 668,750 SH   SOLE   668,000 0 750
SOUTHERN CO COM COM 842587107 305 5,895 SH   OTR 1 0 5,895 0
SOUTHWEST GAS CORP COM COM 844895102 1,515 23,000 SH   SOLE   23,000 0 0
T-MOBILE US INC COM COM 872590104 43,064 1,124,398 SH   SOLE   1,047,395 0 77,003
TELUS CORP COM COM 87971M103 3,904 120,000 SH   SOLE   120,000 0 0
TIME WARNER CABLE INC COM COM 88732J207 81,360 397,615 SH   SOLE   375,657 0 21,958
UNION PAC CORP COM COM 907818108 81,019 1,018,471 SH   SOLE   941,220 0 77,251
VERIZON COMMUNICATIONS COM COM 92343V104 108,215 2,001,009 SH   SOLE   1,885,037 0 115,972
VODAFONE GROUP PUBLIC LTD CO A COM 92857W308 12,063 376,371 SH   SOLE   366,086 0 10,285
WEC ENERGY GROUP INC COM COM 92939U106 53,287 887,088 SH   SOLE   879,373 0 7,715
WEC ENERGY GROUP INC COM COM 92939U106 333 5,549 SH   OTR 1 0 5,549 0
WELLS FARGO & CO NEW COM COM 949746101 435 9,000 SH   SOLE   0 0 9,000
WESTAR ENERGY INC. COM 95709T100 5,702 114,940 SH   SOLE   114,940 0 0
WILLIAMS COS INC COM COM 969457100 25,051 1,558,860 SH   SOLE   1,423,450 0 135,410
XCEL ENERGY INC COM COM 98389B100 6,261 149,721 SH   SOLE   119,925 0 29,796
XCEL ENERGY INC COM COM 98389B100 372 8,904 SH   OTR 1 0 8,904 0
ZAYO GROUP HLDGS INC COM 98919V105 1,755 72,400 SH   SOLE   72,400 0 0
ENTERGY MISS INC PFD P 6.25% PFD 29364N850 258 10,000 SH   SOLE   10,000 0 0
ENTERGY NEW ORLEANS INC 4.36% PFD 29364P202 425 4,500 SH   SOLE   4,500 0 0
WELLS FARGO CO PFD 8% PFD 949746879 379 13,514 SH   SOLE   1,850 0 11,664
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 6,315 902 SH   SOLE   902 0 0
ENBRIDGE ENERGY PARTNERS LP LP 29250R106 2,748 150,000 SH   SOLE   150,000 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 37,924 1,540,355 SH   SOLE   1,507,205 0 33,150
MPLX LP COM UNIT REP LTD LP 55336V100 1,942 65,400 SH   SOLE   65,400 0 0
TALARA OPPORTUNITIES II, LP LP 874111111 1,823 40,519 SH   SOLE   40,519 0 0
WILLIAMS PARTNERS L P COM UNIT LP 96949L105 2,666 130,344 SH   SOLE   130,344 0 0
TELUS CORPORATION COM 87971M103 7,191 220,000 SH   SOLE   220,000 0 0
BT GROUP COM 3091357 8,864 1,400,000 SH   SOLE   1,400,000 0 0
NATIONAL GRID PLC COM B08SNH3 19,155 1,350,000 SH   SOLE   1,350,000 0 0
ROYAL DUTCH A SHARES COM B03MLX2 10,166 420,000 SH   SOLE   420,000 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 2,909 97,037 SH   SOLE   27,424 0 69,613
IENOVA COM B84XBP2 3,276 795,000 SH   SOLE   795,000 0 0