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 1,279 18,550 SH   SOLE   10,000 0 8,550
AMEREN CORP COM COM 023608102 3,108 58,000 SH   SOLE   58,000 0 0
AMERICAN ELEC PWR INC COM COM 025537101 350 5,000 SH   SOLE   5,000 0 0
AMERICAN TOWER REIT COM COM 03027X100 61,595 542,163 SH   SOLE   475,562 0 66,601
AMERICAN WATER WORKS COM 030420103 118,700 1,404,569 SH   SOLE   1,326,383 0 78,186
AMERICAN WATER WORKS COM 030420103 495 5,860 SH   OTR 1 0 5,860 0
ANNALY MTG MGMT INC COM COM 035710409 11,638 1,051,275 SH   SOLE   1,048,775 0 2,500
AQUA AMERICA INC. COM 03836W103 4,208 118,000 SH   SOLE   118,000 0 0
AT & T INC. (NEW) COM 00206R102 60,734 1,405,550 SH   SOLE   1,405,550 0 0
ATMOS ENERGY CORP COM COM 049560105 28,533 350,867 SH   SOLE   283,940 0 66,927
ATMOS ENERGY CORP COM COM 049560105 503 6,187 SH   OTR 1 0 6,187 0
AVANGRID, INC. COM 05351W103 21,654 470,124 SH   SOLE   436,641 0 33,483
AVANGRID, INC. COM 05351W103 333 7,232 SH   OTR 1 0 7,232 0
BCE INC COM NEW COM 05534B760 74,802 1,581,107 SH   SOLE   1,549,407 0 31,700
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 6,230 43,025 SH   SOLE   1,300 0 41,725
BP PLC SPONS ADR COM 055622104 2,361 66,500 SH   SOLE   66,500 0 0
BT GROUP PLC ADR COM 05577E101 836 30,000 SH   SOLE   30,000 0 0
CENTURYLINK INC COM 156700106 7,833 270,000 SH   SOLE   270,000 0 0
CHARTER COMMUNICATIONS INC COM 16119P108 137,311 600,556 SH   SOLE   549,719 0 50,837
CHEVRON CORPORATION COM COM 166764100 26,892 256,525 SH   SOLE   240,192 0 16,333
CIMAREX ENERGY COM 171798101 8,203 68,750 SH   SOLE   53,750 0 15,000
CMS ENERGY CORP COM COM 125896100 24,024 523,850 SH   SOLE   519,150 0 4,700
CMS ENERGY CORP COM COM 125896100 514 11,206 SH   OTR 1 0 11,206 0
COGENT COMMUNICATIONS COM NEW COM 19239V302 2,209 55,145 SH   SOLE   52,122 0 3,023
COLUMBIA PIPELINE GRP INC COM 198280109 20,200 792,486 SH   SOLE   790,513 0 1,973
COMCAST CORP CLASS A COM 20030N101 107,634 1,651,077 SH   SOLE   1,498,848 0 152,229
COMMUNICATIONS SALES & LEASING COM 20341J104 20,168 697,847 SH   SOLE   597,060 0 100,787
CONTINENTAL RES INC COM COM 212015101 5,394 119,150 SH   SOLE   92,400 0 26,750
COSTCO WHSL CORP NEW COM COM 22160K105 628 4,000 SH   SOLE   4,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 68,975 680,021 SH   SOLE   611,470 0 68,551
DOMINION RES VA NEW COM COM 25746U109 75,569 969,707 SH   SOLE   914,061 0 55,646
DOMINION RES VA NEW COM COM 25746U109 196 2,520 SH   OTR 1 0 2,520 0
DTE ENERGY CO COM COM 233331107 152,294 1,536,457 SH   SOLE   1,431,847 0 104,610
DTE ENERGY CO COM COM 233331107 751 7,580 SH   OTR 1 0 7,580 0
DUKE ENERGY CORP NEW COM NEW COM 26441C204 29,603 345,064 SH   SOLE   345,064 0 0
EDISON INTL COM COM 281020107 68,302 879,386 SH   SOLE   792,250 0 87,136
EDISON INTL COM COM 281020107 742 9,547 SH   OTR 1 0 9,547 0
ENTERGY CORP NEW COM COM 29364G103 569 7,000 SH   SOLE   7,000 0 0
EOG RES INC COM COM 26875P101 14,667 175,825 SH   SOLE   142,025 0 33,800
EQT CORP COM COM 26884L109 17,719 228,844 SH   SOLE   202,784 0 26,060
EVERSOURCE ENERGY COM 30040W108 68,960 1,151,257 SH   SOLE   1,108,681 0 42,576
EVERSOURCE ENERGY COM 30040W108 520 8,679 SH   OTR 1 0 8,679 0
EXELON CORP COM COM 30161N101 545 15,000 SH   SOLE   15,000 0 0
EXXON MOBIL CORP COM 30231G102 34,306 365,967 SH   SOLE   313,938 0 52,029
FIRST SOLAR INC COM 336433107 6,121 126,257 SH   SOLE   104,678 0 21,579
FRONTIER COMMUNICATIONS CORP COM 35906A108 7,090 1,435,301 SH   SOLE   1,434,187 0 1,114
GENERAL ELEC CO COM COM 369604103 331 10,500 SH   SOLE   0 0 10,500
HESS CORPORATION COM 42809H107 1,016 16,910 SH   SOLE   1,860 0 15,050
ITC HOLDINGS CORP. COM 465685105 90,715 1,937,535 SH   SOLE   1,872,460 0 65,075
JOHNSON & JOHNSON COM COM 478160104 291 2,400 SH   SOLE   0 0 2,400
KRAFT HEINZ CO COM 500754106 34,498 389,900 SH   SOLE   383,900 0 6,000
LEVEL 3 COMMUNICTIONS COM NEW COM 52729N308 35,202 683,665 SH   SOLE   611,010 0 72,655
MARATHON PETROLEUM CORP COM 56585A102 18,991 500,295 SH   SOLE   406,525 0 93,770
NATIONAL GRID PLC SPON ADR NEW COM 636274300 45,410 610,922 SH   SOLE   570,012 0 40,910
NEXTERA ENERGY INC COM COM 65339F101 162,766 1,248,209 SH   SOLE   1,163,255 0 84,954
NEXTERA ENERGY INC COM COM 65339F101 1,377 10,562 SH   OTR 1 0 10,562 0
NEXTERA ENERGY PARTNERS LP COM 65341B106 18,898 622,050 SH   SOLE   561,900 0 60,150
NISOURCE INC COM COM 65473P105 38,113 1,437,138 SH   SOLE   1,428,287 0 8,851
NISOURCE INC COM COM 65473P105 417 15,716 SH   OTR 1 0 15,716 0
OCCIDENTAL PETE CP DEL COM COM 674599105 39,688 525,248 SH   SOLE   460,891 0 64,357
ONEOK INC NEW COM COM 682680103 464 9,780 SH   SOLE   0 0 9,780
PATTERN ENERGY GROUP INC COM 70338P100 3,108 135,290 SH   SOLE   135,290 0 0
PATTERN ENERGY GROUP INC COM 70338P100 322 14,000 SH   OTR 1 0 14,000 0
PG&E CORP COM COM 69331C108 10,361 162,100 SH   SOLE   162,100 0 0
PG&E CORP COM COM 69331C108 736 11,507 SH   OTR 1 0 11,507 0
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,477 14,518 SH   SOLE   9,500 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 49,947 616,170 SH   SOLE   596,707 0 19,463
PINNACLE WEST CAP CORP COM COM 723484101 347 4,284 SH   OTR 1 0 4,284 0
PIONEER NAT RES CO COM COM 723787107 47,019 310,954 SH   SOLE   271,909 0 39,045
PORTLAND GEN ELEC CO COM NEW COM 736508847 24,453 554,234 SH   SOLE   503,451 0 50,783
PORTLAND GEN ELEC CO COM NEW COM 736508847 464 10,513 SH   OTR 1 0 10,513 0
PPG INDS INC COM COM 693506107 583 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 36,196 958,825 SH   SOLE   932,120 0 26,705
REAVES UTILITIES ETF COM 26923G806 1,680 51,500 SH   SOLE   1,500 0 50,000
ROYAL DUTCH SHELL PLC ADRS B COM 780259107 1,004 17,920 SH   SOLE   17,920 0 0
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 113,123 2,048,584 SH   SOLE   1,899,888 0 148,696
SCANA CORP NEW COM COM 80589M102 124,923 1,651,109 SH   SOLE   1,576,187 0 74,922
SCANA CORP NEW COM COM 80589M102 562 7,426 SH   OTR 1 0 7,426 0
SCHLUMBERGER LTD COM COM 806857108 19,922 251,928 SH   SOLE   189,984 0 61,944
SEMPRA ENERGY COM COM 816851109 121,913 1,069,222 SH   SOLE   993,238 0 75,984
SEMPRA ENERGY COM COM 816851109 803 7,041 SH   OTR 1 0 7,041 0
SOUTH JERSEY IND COM 838518108 14,564 460,600 SH   SOLE   392,400 0 68,200
SOUTHERN CO COM COM 842587107 33,184 618,750 SH   SOLE   618,000 0 750
SOUTHERN CO COM COM 842587107 443 8,253 SH   OTR 1 0 8,253 0
SOUTHWEST GAS CORP COM COM 844895102 1,102 14,000 SH   SOLE   14,000 0 0
T-MOBILE US INC COM COM 872590104 45,824 1,059,019 SH   SOLE   977,418 0 81,601
TELUS CORP COM COM 87971M103 3,887 120,700 SH   SOLE   120,000 0 700
TOTAL S.A. ADRS COM 89151E109 294 6,115 SH   SOLE   6,115 0 0
TRANSCANADA CORP COM 89353D107 5,415 119,750 SH   SOLE   119,750 0 0
UNION PAC CORP COM COM 907818108 81,804 937,579 SH   SOLE   871,553 0 66,026
VERIZON COMMUNICATIONS COM COM 92343V104 113,005 2,023,720 SH   SOLE   1,923,292 0 100,428
VODAFONE GROUP PUBLIC LTD CO A COM 92857W308 9,754 315,771 SH   SOLE   315,771 0 0
WEC ENERGY GROUP INC COM COM 92939U106 57,165 875,422 SH   SOLE   875,422 0 0
WEC ENERGY GROUP INC COM COM 92939U106 507 7,769 SH   OTR 1 0 7,769 0
WELLS FARGO & CO NEW COM COM 949746101 426 9,000 SH   SOLE   0 0 9,000
WESTAR ENERGY INC. COM 95709T100 3,989 71,115 SH   SOLE   71,115 0 0
WILLIAMS COS INC COM COM 969457100 29,063 1,343,660 SH   SOLE   1,235,985 0 107,675
XCEL ENERGY INC COM COM 98389B100 6,235 139,245 SH   SOLE   115,131 0 24,114
XCEL ENERGY INC COM COM 98389B100 558 12,466 SH   OTR 1 0 12,466 0
ZAYO GROUP HLDGS INC COM 98919V105 5,236 187,475 SH   SOLE   172,075 0 15,400
ENTERGY MISS INC PFD P 6.25% PFD 29364N850 268 10,000 SH   SOLE   10,000 0 0
WELLS FARGO CO PFD 8% PFD 949746879 361 13,014 SH   SOLE   13,014 0 0
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 5,661 809 SH   SOLE   809 0 0
ENBRIDGE ENERGY PARTNERS LP LP 29250R106 3,480 150,000 SH   SOLE   150,000 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 44,636 1,525,500 SH   SOLE   1,505,200 0 20,300
TALARA OPPORTUNITIES II, LP LP 874111111 1,742 40,519 SH   SOLE   40,519 0 0
WILLIAMS PARTNERS L P COM UNIT LP 96949L105 4,065 117,344 SH   SOLE   117,344 0 0
TELUS CORPORATION COM 87971M103 7,047 220,000 SH   SOLE   220,000 0 0
NATIONAL GRID PLC COM B08SNH3 19,779 1,350,000 SH   SOLE   1,350,000 0 0
ROYAL DUTCH A SHARES COM B03MLX2 11,496 420,000 SH   SOLE   420,000 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 3,153 97,106 SH   SOLE   27,424 0 69,682
IENOVA COM B84XBP2 3,319 795,000 SH   SOLE   795,000 0 0