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
8POINT3 ENERGY PARTNERS LP COM 282539105 527 28,300 SH   SOLE   23,300 0 5,000
ALLETE INC COM NEW COM 018522300 4,090 88,175 SH   SOLE   41,300 0 46,875
ALTRIA GROUP INC. COM 02209S103 907 18,550 SH   SOLE   10,000 0 8,550
AMEREN CORP COM COM 023608102 6,792 180,245 SH   SOLE   180,245 0 0
AMERICAN TOWER REIT COM COM 03027X100 87,089 933,531 SH   SOLE   830,872 0 102,659
AMERICAN WATER WORKS COM 030420103 107,665 2,213,959 SH   SOLE   2,044,569 0 169,390
ANADARKO PETE CORP COM COM 032511107 8,546 109,475 SH   SOLE   91,175 0 18,300
ANNALY MTG MGMT INC COM COM 035710409 7,990 869,400 SH   SOLE   828,275 0 41,125
AQUA AMERICA INC. COM 03836W103 6,171 252,000 SH   SOLE   252,000 0 0
AT & T INC. (NEW) COM 00206R102 39,239 1,104,710 SH   SOLE   1,067,460 0 37,250
ATMOS ENERGY CORP COM COM 049560105 18,094 352,850 SH   SOLE   284,785 0 68,065
BCE INC COM NEW COM 05534B760 78,552 1,848,279 SH   SOLE   1,768,663 0 79,616
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 5,397 39,650 SH   SOLE   1,100 0 38,550
BT GROUP PLC ADR COM 05577E101 4,964 70,025 SH   SOLE   70,025 0 0
CABLE ONE W/I COM 12685J105 213 500 SH   SOLE   500 0 0
CANADIAN PACIFIC LTD COM 13645T100 6,982 43,575 SH   SOLE   36,100 0 7,475
CENTURYLINK INC COM 156700106 26,404 898,715 SH   SOLE   876,590 0 22,125
CHARTER COMMUNCTNS DEL CL A COM 16117M305 86,409 504,580 SH   SOLE   458,350 0 46,230
CHESAPEAKE ENERGY CORP COM COM 165167107 223 20,000 SH   SOLE   0 0 20,000
CHEVRON CORPORATION COM COM 166764100 14,398 149,250 SH   SOLE   141,885 0 7,365
CMS ENERGY CORP COM COM 125896100 2,197 69,000 SH   SOLE   69,000 0 0
COGENT COMMUNICATIONS COM NEW COM 19239V302 43,850 1,295,800 SH   SOLE   1,161,220 0 134,580
COMCAST CORP CLASS A COM 20030N101 55,659 925,487 SH   SOLE   815,559 0 109,928
COSTCO WHSL CORP NEW COM COM 22160K105 540 4,000 SH   SOLE   4,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 44,092 549,090 SH   SOLE   493,585 0 55,505
DEVON ENERGY CORP NEW COM COM 25179M103 7,499 126,050 SH   SOLE   105,350 0 20,700
DIRECTV COM CL A COM 25490A309 6,059 65,298 SH   SOLE   65,000 0 298
DOMINION RES VA NEW COM COM 25746U109 99,803 1,492,488 SH   SOLE   1,372,918 0 119,570
DTE ENERGY CO COM COM 233331107 122,870 1,646,166 SH   SOLE   1,534,209 0 111,957
DUKE ENERGY CORP NEW COM NEW COM 26441C204 57,938 820,414 SH   SOLE   815,399 0 5,015
EDISON INTL COM COM 281020107 5,625 101,200 SH   SOLE   96,700 0 4,500
ENBRIDGE INC COM COM 29250N105 8,706 186,065 SH   SOLE   176,515 0 9,550
ENERGEN CORP COM 29265N108 10,612 155,376 SH   SOLE   134,076 0 21,300
ENTERGY CORP NEW COM COM 29364G103 14,805 210,000 SH   SOLE   210,000 0 0
EOG RES INC COM COM 26875P101 2,281 26,050 SH   SOLE   26,050 0 0
EQT CORP COM COM 26884L109 6,086 74,825 SH   SOLE   71,352 0 3,473
EVERSOURCE ENERGY COM 30040W108 45,377 999,281 SH   SOLE   999,053 0 228
EXXON MOBIL CORP COM 30231G102 9,980 119,953 SH   SOLE   87,962 0 31,991
FIRST SOLAR INC COM 336433107 11,100 236,270 SH   SOLE   207,640 0 28,630
FRONTIER COMMUNICATIONS CORP COM 35906A108 5,396 1,090,055 SH   SOLE   940,230 0 149,825
GENERAL DYNAMICS CORP COM COM 369550108 255 1,800 SH   SOLE   0 0 1,800
GENERAL ELEC CO COM COM 369604103 279 10,500 SH   SOLE   0 0 10,500
HALLIBURTON CO COM COM 406216101 6,945 161,245 SH   SOLE   139,445 0 21,800
HESS CORPORATION COM 42809H107 25,026 374,197 SH   SOLE   315,777 0 58,420
ITC HOLDINGS CORP. COM 465685105 116,528 3,621,141 SH   SOLE   3,365,018 0 256,123
JOHNSON & JOHNSON COM COM 478160104 234 2,400 SH   SOLE   0 0 2,400
KANSAS CITY SOUTHN IND COM COM 485170302 638 7,000 SH   SOLE   7,000 0 0
KINDER MORGAN INC KANS COM COM 49456B101 24,064 626,835 SH   SOLE   580,925 0 45,910
KRAFT FOODS GROUP INC COM COM 50076Q106 20,859 245,000 SH   SOLE   245,000 0 0
LEVEL 3 COMMUNICTIONS COM NEW COM 52729N308 22,897 434,730 SH   SOLE   403,540 0 31,190
LIBERTY GLOBAL PLC SHS CL A COM G5480U104 30,262 559,680 SH   SOLE   511,820 0 47,860
LIBERTY GLOBAL PLC SHS CL C COM G5480U120 12,403 244,966 SH   SOLE   172,940 0 72,026
NATIONAL FUEL GAS CO N J COM 636180101 3,239 55,000 SH   SOLE   55,000 0 0
NATIONAL GRID PLC SPON ADR NEW COM 636274300 51,706 800,771 SH   SOLE   764,721 0 36,050
NEXTERA ENERGY INC COM COM 65339F101 142,150 1,450,068 SH   SOLE   1,342,706 0 107,362
NEXTERA ENERGY PARTNERS LP COM 65341B106 9,707 245,000 SH   SOLE   242,500 0 2,500
NISOURCE INC COM COM 65473P105 56,790 1,245,671 SH   SOLE   1,221,488 0 24,183
NRG ENERGY INC COM COM 629377508 1,153 50,405 SH   SOLE   41,755 0 8,650
NRG YIELD INC CL A NEW COM 62942X306 6,657 302,710 SH   SOLE   269,385 0 33,325
NRG YIELD INC CL C COM 62942X405 7,021 320,720 SH   SOLE   284,605 0 36,115
OCCIDENTAL PETE CP DEL COM COM 674599105 33,178 426,611 SH   SOLE   374,091 0 52,520
ONE GAS INC COM COM 68235P108 17,633 414,300 SH   SOLE   389,000 0 25,300
ONEOK INC NEW COM COM 682680103 390 9,880 SH   SOLE   100 0 9,780
PATTERN ENERGY GROUP INC COM 70338P100 30,615 1,078,763 SH   SOLE   942,833 0 135,930
PG&E CORP COM COM 69331C108 2,455 50,000 SH   SOLE   50,000 0 0
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,164 14,518 SH   SOLE   9,500 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 26,187 460,308 SH   SOLE   433,976 0 26,332
PIONEER NAT RES CO COM COM 723787107 34,604 249,505 SH   SOLE   222,645 0 26,860
PPG INDS INC COM COM 693506107 642 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 58,491 1,984,780 SH   SOLE   1,883,960 0 100,820
RANGE RES CORP COM COM 75281A109 894 18,100 SH   SOLE   18,100 0 0
ROYAL DUTCH SHELL PLC ADRS B COM 780259107 1,044 18,204 SH   SOLE   1,365 0 16,839
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 56,555 992,015 SH   SOLE   904,070 0 87,945
SBA COMMUNICATIONS CORP COM 78388J106 1,495 13,000 SH   SOLE   13,000 0 0
SCANA CORP NEW COM COM 80589M102 101,230 1,998,610 SH   SOLE   1,896,844 0 101,766
SCHLUMBERGER LTD COM COM 806857108 30,991 359,570 SH   SOLE   300,280 0 59,290
SEMPRA ENERGY COM COM 816851109 87,209 881,430 SH   SOLE   825,505 0 55,925
SOUTH JERSEY IND COM 838518108 23,199 938,101 SH   SOLE   795,031 0 143,070
SOUTHERN CO COM COM 842587107 33,551 800,750 SH   SOLE   800,000 0 750
T-MOBILE US INC COM COM 872590104 37,085 956,530 SH   SOLE   878,600 0 77,930
TALEN ENERGY CORP COM 87422J105 16,663 971,059 SH   SOLE   920,620 0 50,439
TELUS CORP COM COM 87971M103 2,846 82,650 SH   SOLE   82,600 0 50
TERRAFORM PWR INC CL A COM COM 88104R100 1,218 32,075 SH   SOLE   32,075 0 0
TIME WARNER CABLE INC COM COM 88732J207 61,678 346,175 SH   SOLE   335,115 0 11,060
TOTAL S.A. ADRS COM 89151E109 237 4,820 SH   SOLE   350 0 4,470
UNION PAC CORP COM COM 907818108 111,566 1,169,828 SH   SOLE   1,085,683 0 84,145
VERIZON COMMUNICATIONS COM COM 92343V104 86,485 1,855,497 SH   SOLE   1,776,728 0 78,769
VODAFONE GROUP PUBLIC LTD CO A COM 92857W308 30,899 847,696 SH   SOLE   830,836 0 16,860
WEC ENERGY GROUP INC COM COM 92939U106 41,017 912,090 SH   SOLE   900,365 0 11,725
WELLS FARGO & CO NEW COM COM 949746101 506 9,000 SH   SOLE   0 0 9,000
WESTAR ENERGY INC. COM 95709T100 5,206 152,140 SH   SOLE   152,140 0 0
WILLIAMS COS INC COM COM 969457100 121,536 2,117,715 SH   SOLE   1,915,254 0 202,461
AMEREN ILL CO PFD 4.25% PFD 02361D308 958 10,300 SH   SOLE   10,300 0 0
ENTERGY LA LLC PFD SER A 6.95% PFD 293649307 806 7,900 SH   SOLE   7,900 0 0
ENTERGY MISS INC PFD P 6.25% PFD 29364N850 250 10,000 SH   SOLE   10,000 0 0
ENTERGY MISSISSIPPI 4.56% PFD 29364N306 343 3,520 SH   SOLE   3,520 0 0
ENTERGY NEW ORLEANS INC 4.36% PFD 29364P202 419 4,500 SH   SOLE   4,500 0 0
WASHINGTON GAS LT CO PFD PFD 938837507 1,067 10,671 SH   SOLE   10,671 0 0
WELLS FARGO CO PFD 8% PFD 949746879 531 18,814 SH   SOLE   1,350 0 17,464
ENBRIDGE ENERGY PARTNERS LP LP 29250R106 5,000 150,000 SH   SOLE   150,000 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 41,633 1,392,880 SH   SOLE   1,356,030 0 36,850
MARKWEST ENERGY PARTNERS LP LP 570759100 3,383 60,000 SH   SOLE   60,000 0 0
SHELL MIDSTREAM PARTNERS LP LP 822634101 1,598 35,000 SH   SOLE   35,000 0 0
TALARA OPPORTUNITIES II, LP LP 874111111 3,026 35,606 SH   SOLE   35,606 0 0
WILLIAMS PARTNERS L P COM UNIT LP 96949L105 6,313 130,344 SH   SOLE   130,344 0 0
TELUS CORPORATION COM 87971M103 16,657 483,275 SH   SOLE   432,000 0 51,275
TDC A/S COM 5698790 733 100,000 SH   SOLE   00000.00 0 0
BT GROUP COM 3091357 13,630 1,925,000 SH   SOLE   1,925,000 0 0
NATIONAL GRID PLC COM B08SNH3 21,142 1,645,000 SH   SOLE   1,645,000 0 0
SSE PLC COM 0790873 1,208 50,000 SH   SOLE   50,000 0 0
VODAFONE COM BH4HKS3 2,172 600,909 SH   SOLE   600,909 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 2,346 81,842 SH   SOLE   20,783 0 61,059
IENOVA COM B84XBP2 3,448 695,000 SH   SOLE   695,000 0 0