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 1,009 18,550 SH   SOLE   10,000 0 8,550
AMEREN CORP COM COM 023608102 2,969 70,245 SH   SOLE   70,245 0 0
AMERICAN TOWER REIT COM COM 03027X100 75,524 858,423 SH   SOLE   755,029 0 103,394
AMERICAN WATER WORKS COM 030420103 114,157 2,072,564 SH   SOLE   1,903,804 0 168,760
ANADARKO PETE CORP COM COM 032511107 1,158 19,175 SH   SOLE   15,175 0 4,000
ANNALY MTG MGMT INC COM COM 035710409 12,201 1,236,125 SH   SOLE   1,203,075 0 33,050
APPLE INC COM COM 037833100 264 2,389 SH   SOLE   0 0 2,389
AQUA AMERICA INC. COM 03836W103 6,670 252,000 SH   SOLE   252,000 0 0
AT & T INC. (NEW) COM 00206R102 48,272 1,481,638 SH   SOLE   1,435,662 0 45,976
ATMOS ENERGY CORP COM COM 049560105 23,021 395,678 SH   SOLE   318,183 0 77,495
BAKER HUGHES INC COM COM 057224107 572 11,000 SH   SOLE   11,000 0 0
BCE INC COM NEW COM 05534B760 60,702 1,481,972 SH   SOLE   1,476,496 0 5,476
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 5,350 41,025 SH   SOLE   1,100 0 39,925
BT GROUP PLC ADR COM 05577E101 4,464 70,025 SH   SOLE   70,025 0 0
CAMERON INTL CORP COM COM 13342B105 489 7,975 SH   SOLE   300 0 7,675
CANADIAN PACIFIC LTD COM 13645T100 1,594 11,100 SH   SOLE   7,600 0 3,500
CENTURYLINK INC COM 156700106 23,994 955,190 SH   SOLE   938,190 0 17,000
CHARTER COMMUNCTNS DEL CL A COM 16117M305 85,959 488,820 SH   SOLE   441,140 0 47,680
CHEVRON CORPORATION COM COM 166764100 8,231 104,350 SH   SOLE   100,745 0 3,605
CIMAREX ENERGY COM 171798101 533 5,200 SH   SOLE   5,200 0 0
CMS ENERGY CORP COM COM 125896100 18,819 532,802 SH   SOLE   528,302 0 4,500
COGENT COMMUNICATIONS COM NEW COM 19239V302 15,264 561,992 SH   SOLE   478,287 0 83,705
COLUMBIA PIPELINE GRP INC COM 198280109 22,665 1,239,196 SH   SOLE   1,219,993 0 19,203
COMCAST CORP CLASS A COM 20030N101 65,157 1,145,522 SH   SOLE   1,030,279 0 115,243
CONCHO RESOURCES INC COM 20605P101 742 7,550 SH   SOLE   7,550 0 0
COSTCO WHSL CORP NEW COM COM 22160K105 578 4,000 SH   SOLE   4,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 40,433 512,655 SH   SOLE   454,895 0 57,760
DEVON ENERGY CORP NEW COM COM 25179M103 6,600 177,950 SH   SOLE   143,400 0 34,550
DOMINION RES VA NEW COM COM 25746U109 102,086 1,450,497 SH   SOLE   1,334,157 0 116,340
DTE ENERGY CO COM COM 233331107 131,707 1,638,759 SH   SOLE   1,520,672 0 118,087
DUKE ENERGY CORP NEW COM NEW COM 26441C204 58,932 819,189 SH   SOLE   815,399 0 3,790
EDISON INTL COM COM 281020107 35,645 565,163 SH   SOLE   503,638 0 61,525
ENBRIDGE INC COM COM 29250N105 3,242 87,315 SH   SOLE   87,315 0 0
ENERGEN CORP COM 29265N108 7,443 149,276 SH   SOLE   124,326 0 24,950
ENTERGY CORP NEW COM COM 29364G103 4,232 65,000 SH   SOLE   65,000 0 0
EQT CORP COM COM 26884L109 5,980 92,320 SH   SOLE   88,882 0 3,438
EVERSOURCE ENERGY COM 30040W108 50,595 999,516 SH   SOLE   999,516 0 0
EXXON MOBIL CORP COM 30231G102 17,754 238,783 SH   SOLE   186,892 0 51,891
FIRST SOLAR INC COM 336433107 5,800 135,680 SH   SOLE   111,850 0 23,830
FRONTIER COMMUNICATIONS CORP COM 35906A108 5,363 1,129,155 SH   SOLE   951,655 0 177,500
GENERAL DYNAMICS CORP COM COM 369550108 248 1,800 SH   SOLE   0 0 1,800
GENERAL ELEC CO COM COM 369604103 265 10,500 SH   SOLE   0 0 10,500
HALLIBURTON CO COM COM 406216101 3,378 95,545 SH   SOLE   79,295 0 16,250
HESS CORPORATION COM 42809H107 16,039 320,395 SH   SOLE   261,960 0 58,435
ITC HOLDINGS CORP. COM 465685105 118,684 3,559,804 SH   SOLE   3,300,156 0 259,648
JOHNSON & JOHNSON COM COM 478160104 224 2,400 SH   SOLE   0 0 2,400
KANSAS CITY SOUTHN IND COM COM 485170302 818 9,000 SH   SOLE   9,000 0 0
KINDER MORGAN INC KANS COM COM 49456B101 6,270 226,500 SH   SOLE   217,492 0 9,008
KRAFT HEINZ CO COM 500754106 24,068 341,000 SH   SOLE   335,000 0 6,000
LEVEL 3 COMMUNICTIONS COM NEW COM 52729N308 34,014 778,525 SH   SOLE   698,105 0 80,420
LIBERTY GLOBAL PLC SHS CL A COM G5480U104 20,840 485,320 SH   SOLE   438,430 0 46,890
LIBERTY GLOBAL PLC SHS CL C COM G5480U120 8,174 199,276 SH   SOLE   130,760 0 68,516
NATIONAL FUEL GAS CO N J COM 636180101 2,749 55,000 SH   SOLE   55,000 0 0
NATIONAL GRID PLC SPON ADR NEW COM 636274300 55,918 803,073 SH   SOLE   769,163 0 33,910
NEXTERA ENERGY INC COM COM 65339F101 138,868 1,423,556 SH   SOLE   1,318,849 0 104,707
NEXTERA ENERGY PARTNERS LP COM 65341B106 6,734 308,900 SH   SOLE   306,400 0 2,500
NISOURCE INC COM COM 65473P105 29,623 1,596,942 SH   SOLE   1,540,487 0 56,455
NRG ENERGY INC COM COM 629377508 698 47,030 SH   SOLE   38,470 0 8,560
NRG YIELD INC CL A NEW COM 62942X306 296 26,580 SH   SOLE   21,355 0 5,225
NRG YIELD INC CL C COM 62942X405 290 25,015 SH   SOLE   20,550 0 4,465
OCCIDENTAL PETE CP DEL COM COM 674599105 21,573 326,128 SH   SOLE   276,563 0 49,565
ONE GAS INC COM COM 68235P108 18,780 414,300 SH   SOLE   389,000 0 25,300
ONEOK INC NEW COM COM 682680103 315 9,780 SH   SOLE   0 0 9,780
PATTERN ENERGY GROUP INC COM 70338P100 16,827 881,468 SH   SOLE   771,225 0 110,243
PG&E CORP COM COM 69331C108 2,761 52,288 SH   SOLE   52,288 0 0
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,152 14,518 SH   SOLE   9,500 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 19,421 302,796 SH   SOLE   288,439 0 14,357
PIONEER NAT RES CO COM COM 723787107 16,814 138,229 SH   SOLE   118,579 0 19,650
PPG INDS INC COM COM 693506107 491 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 65,035 1,977,349 SH   SOLE   1,881,229 0 96,120
ROYAL DUTCH SHELL PLC ADRS B COM 780259107 711 14,984 SH   SOLE   1,395 0 13,589
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 52,883 1,115,900 SH   SOLE   1,012,015 0 103,885
SBA COMMUNICATIONS CORP COM 78388J106 1,571 15,000 SH   SOLE   15,000 0 0
SCANA CORP NEW COM COM 80589M102 105,538 1,875,892 SH   SOLE   1,778,321 0 97,571
SCHLUMBERGER LTD COM COM 806857108 20,425 296,144 SH   SOLE   238,291 0 57,853
SEMPRA ENERGY COM COM 816851109 92,667 958,097 SH   SOLE   896,242 0 61,855
SOUTH JERSEY IND COM 838518108 20,338 805,468 SH   SOLE   673,971 0 131,497
SOUTHERN CO COM COM 842587107 34,030 761,308 SH   SOLE   760,558 0 750
T-MOBILE US INC COM COM 872590104 35,210 884,450 SH   SOLE   810,100 0 74,350
TALEN ENERGY CORP COM 87422J105 1,362 134,842 SH   SOLE   134,105 0 737
TIME WARNER CABLE INC COM COM 88732J207 67,124 374,220 SH   SOLE   356,620 0 17,600
UNION PAC CORP COM COM 907818108 93,073 1,052,740 SH   SOLE   973,385 0 79,355
VERIZON COMMUNICATIONS COM COM 92343V104 88,288 2,029,147 SH   SOLE   1,910,635 0 118,512
VODAFONE GROUP PUBLIC LTD CO A COM 92857W308 25,336 798,246 SH   SOLE   785,511 0 12,735
WEC ENERGY GROUP INC COM COM 92939U106 43,222 827,689 SH   SOLE   818,493 0 9,196
WELLS FARGO & CO NEW COM COM 949746101 462 9,000 SH   SOLE   0 0 9,000
WESTAR ENERGY INC. COM 95709T100 5,727 148,990 SH   SOLE   148,990 0 0
WILLIAMS COS INC COM COM 969457100 71,210 1,932,430 SH   SOLE   1,743,219 0 189,211
ENTERGY MISS INC PFD P 6.25% PFD 29364N850 253 10,000 SH   SOLE   10,000 0 0
ENTERGY NEW ORLEANS INC 4.36% PFD 29364P202 432 4,500 SH   SOLE   4,500 0 0
WELLS FARGO CO PFD 8% PFD 949746879 424 15,389 SH   SOLE   1,350 0 14,039
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 7,000 1,000 SH   SOLE   1,000 0 0
ENBRIDGE ENERGY PARTNERS LP LP 29250R106 3,708 150,000 SH   SOLE   150,000 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 34,579 1,388,730 SH   SOLE   1,356,030 0 32,700
MARKWEST ENERGY PARTNERS LP LP 570759100 2,575 60,000 SH   SOLE   60,000 0 0
SHELL MIDSTREAM PARTNERS LP LP 822634101 1,030 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 4,161 130,344 SH   SOLE   130,344 0 0
TELUS CORPORATION COM 87971M103 7,214 230,000 SH   SOLE   230,000 0 0
BT GROUP COM 3091357 8,898 1,400,000 SH   SOLE   1,400,000 0 0
NATIONAL GRID PLC COM B08SNH3 22,897 1,645,000 SH   SOLE   1,645,000 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 2,240 79,738 SH   SOLE   20,773 0 58,965
IENOVA COM B84XBP2 3,035 745,000 SH   SOLE   745,000 0 0