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
ALLETE INC COM NEW COM 018522300 3,375 49,852 SH   SOLE   42,827 0 7,025
ALLETE INC COM NEW COM 018522300 386 5,700 SH   OTR 1 0 5,700 0
ALTRIA GROUP INC. COM 02209S103 1,325 18,550 SH   SOLE   10,000 0 8,550
AMERICAN TOWER REIT COM COM 03027X100 54,217 446,081 SH   SOLE   402,268 0 43,813
AMERICAN WATER WORKS COM 030420103 102,650 1,319,918 SH   SOLE   1,267,516 0 52,402
AMERICAN WATER WORKS COM 030420103 687 8,834 SH   OTR 1 0 8,834 0
ANNALY MTG MGMT INC COM COM 035710409 14,471 1,302,500 SH   SOLE   1,302,500 0 0
AQUA AMERICA INC. COM 03836W103 2,251 70,000 SH   SOLE   70,000 0 0
AT & T INC. (NEW) COM 00206R102 53,279 1,282,275 SH   SOLE   1,282,275 0 0
ATMOS ENERGY CORP COM COM 049560105 47,029 595,382 SH   SOLE   538,090 0 57,292
ATMOS ENERGY CORP COM COM 049560105 628 7,955 SH   OTR 1 0 7,955 0
AVANGRID, INC. COM 05351W103 8,484 198,500 SH   SOLE   198,500 0 0
AVANGRID, INC. COM 05351W103 269 6,298 SH   OTR 1 0 6,298 0
BAKER HUGHES INC COM COM 057224107 22,283 372,500 SH   SOLE   370,000 0 2,500
BCE INC COM NEW COM 05534B760 82,215 1,857,136 SH   SOLE   1,765,183 0 91,953
BERKSHIRE HATHAWAY INC CLASS B COM 084670702 7,184 43,100 SH   SOLE   1,300 0 41,800
BP PLC SPONS ADR COM 055622104 2,416 70,000 SH   SOLE   70,000 0 0
CENTURYLINK INC COM 156700106 12,242 519,400 SH   SOLE   471,650 0 47,750
CHARTER COMMUNICATIONS INC COM 16119P108 164,474 502,488 SH   SOLE   473,984 0 28,504
CHEVRON CORPORATION COM COM 166764100 60,510 563,569 SH   SOLE   520,817 0 42,752
CIMAREX ENERGY COM 171798101 9,801 82,025 SH   SOLE   62,100 0 19,925
CMS ENERGY CORP COM COM 125896100 30,090 672,550 SH   SOLE   667,450 0 5,100
CMS ENERGY CORP COM COM 125896100 645 14,408 SH   OTR 1 0 14,408 0
COMCAST CORP CLASS A COM 20030N101 132,661 3,529,157 SH   SOLE   3,259,639 0 269,518
CONTINENTAL RES INC COM COM 212015101 12,418 273,401 SH   SOLE   208,026 0 65,375
COSTCO WHSL CORP NEW COM COM 22160K105 671 4,000 SH   SOLE   4,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 62,215 658,704 SH   SOLE   596,408 0 62,296
DOMINION RES VA NEW COM COM 25746U109 46,717 602,260 SH   SOLE   602,260 0 0
DTE ENERGY CO COM COM 233331107 154,321 1,511,318 SH   SOLE   1,422,701 0 88,617
DTE ENERGY CO COM COM 233331107 688 6,735 SH   OTR 1 0 6,735 0
EDISON INTL COM COM 281020107 88,619 1,113,158 SH   SOLE   1,038,314 0 74,844
EDISON INTL COM COM 281020107 1,136 14,275 SH   OTR 1 0 14,275 0
EOG RES INC COM COM 26875P101 30,742 315,136 SH   SOLE   264,902 0 50,234
EQT CORP COM COM 26884L109 13,528 221,413 SH   SOLE   203,747 0 17,666
EVERSOURCE ENERGY COM 30040W108 55,513 944,413 SH   SOLE   941,838 0 2,575
EXXON MOBIL CORP COM 30231G102 1,677 20,450 SH   SOLE   13,450 0 7,000
FORTIS INC COM 349553107 40,953 1,235,026 SH   SOLE   1,235,026 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 43 20,050 SH   SOLE   20,050 0 0
GENERAL DYNAMICS CORP COM COM 369550108 232 1,240 SH   SOLE   0 0 1,240
GENERAL ELEC CO COM COM 369604103 313 10,500 SH   SOLE   0 0 10,500
HELMERICH & PAYNE COM 423452101 14,855 223,153 SH   SOLE   198,198 0 24,955
HESS CORPORATION COM 42809H107 7,195 149,250 SH   SOLE   119,900 0 29,350
JOHNSON & JOHNSON COM COM 478160104 299 2,400 SH   SOLE   0 0 2,400
KANSAS CITY SOUTHN IND COM COM 485170302 1,201 14,000 SH   SOLE   14,000 0 0
KRAFT HEINZ CO COM 500754106 34,499 379,900 SH   SOLE   373,900 0 6,000
LEVEL 3 COMMUNICTIONS COM NEW COM 52729N308 2,289 40,000 SH   SOLE   40,000 0 0
MARATHON PETROLEUM CORP COM 56585A102 22,139 438,051 SH   SOLE   366,943 0 71,108
NATIONAL GRID PLC SPON ADR NEW COM 636274300 10,242 161,341 SH   SOLE   161,341 0 0
NEXTERA ENERGY INC COM COM 65339F101 148,163 1,154,184 SH   SOLE   1,087,790 0 66,394
NEXTERA ENERGY INC COM COM 65339F101 1,743 13,580 SH   OTR 1 0 13,580 0
NEXTERA ENERGY PARTNERS LP COM 65341B106 46,507 1,403,781 SH   SOLE   1,275,781 0 128,000
NEXTERA ENERGY PARTNERS LP COM 65341B106 609 18,392 SH   OTR 1 0 18,392 0
NISOURCE INC COM COM 65473P105 49,702 2,089,192 SH   SOLE   1,993,475 0 95,717
NISOURCE INC COM COM 65473P105 730 30,706 SH   OTR 1 0 30,706 0
OCCIDENTAL PETE CP DEL COM COM 674599105 16,089 253,936 SH   SOLE   225,364 0 28,572
ONEOK INC NEW COM COM 682680103 11,630 209,780 SH   SOLE   200,000 0 9,780
PATTERN ENERGY GROUP INC COM 70338P100 12,763 634,052 SH   SOLE   634,052 0 0
PATTERN ENERGY GROUP INC COM 70338P100 569 28,286 SH   OTR 1 0 28,286 0
PG&E CORP COM COM 69331C108 51,150 770,800 SH   SOLE   770,700 0 100
PG&E CORP COM COM 69331C108 1,148 17,295 SH   OTR 1 0 17,295 0
PHILLIP MORRIS INTERNATIONAL COM 718172109 1,639 14,518 SH   SOLE   9,500 0 5,018
PINNACLE WEST CAP CORP COM COM 723484101 50,118 601,075 SH   SOLE   585,625 0 15,450
PINNACLE WEST CAP CORP COM COM 723484101 459 5,508 SH   OTR 1 0 5,508 0
PIONEER NAT RES CO COM COM 723787107 40,916 219,705 SH   SOLE   182,054 0 37,651
PORTLAND GEN ELEC CO COM NEW COM 736508847 19,798 445,702 SH   SOLE   441,945 0 3,757
PORTLAND GEN ELEC CO COM NEW COM 736508847 600 13,517 SH   OTR 1 0 13,517 0
PPG INDS INC COM COM 693506107 588 5,600 SH   SOLE   0 0 5,600
PPL CORP COM COM 69351T106 38,125 1,019,670 SH   SOLE   986,870 0 32,800
ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 109,912 2,084,422 SH   SOLE   1,937,208 0 147,214
SCANA CORP NEW COM COM 80589M102 93,927 1,437,299 SH   SOLE   1,375,425 0 61,874
SCANA CORP NEW COM COM 80589M102 876 13,404 SH   OTR 1 0 13,404 0
SCHLUMBERGER LTD COM COM 806857108 13,966 178,818 SH   SOLE   130,667 0 48,151
SEMPRA ENERGY COM COM 816851109 113,609 1,028,132 SH   SOLE   965,269 0 62,863
SEMPRA ENERGY COM COM 816851109 1,188 10,753 SH   OTR 1 0 10,753 0
SOUTH JERSEY IND COM 838518108 8,833 247,776 SH   SOLE   217,775 0 30,001
SOUTHERN CO COM COM 842587107 13,809 277,394 SH   SOLE   276,644 0 750
T-MOBILE US INC COM COM 872590104 62,462 967,052 SH   SOLE   897,633 0 69,419
TARGA RESOURCES CORP COM 87612G101 2,027 33,840 SH   SOLE   33,810 0 30
TELUS CORP COM COM 87971M103 1,468 45,200 SH   SOLE   45,200 0 0
TIME WARNER INC. COM 887317303 24,356 249,266 SH   SOLE   244,901 0 4,365
TRANSCANADA CORP COM 89353D107 26,614 576,683 SH   SOLE   486,622 0 90,061
UNION PAC CORP COM COM 907818108 68,297 644,800 SH   SOLE   618,900 0 25,900
UNITI GROUP INC COM 91325V108 34,982 1,353,254 SH   SOLE   1,187,135 0 166,119
VERIZON COMMUNICATIONS COM COM 92343V104 83,809 1,719,161 SH   SOLE   1,667,838 0 51,323
WEC ENERGY GROUP INC COM COM 92939U106 62,015 1,022,850 SH   SOLE   1,022,850 0 0
WEC ENERGY GROUP INC COM COM 92939U106 606 9,989 SH   OTR 1 0 9,989 0
WELLS FARGO & CO NEW COM COM 949746101 501 9,000 SH   SOLE   0 0 9,000
WILLIAMS COS INC COM COM 969457100 41,065 1,387,810 SH   SOLE   1,287,960 0 99,850
XCEL ENERGY INC COM COM 98389B100 452 10,178 SH   OTR 1 0 10,178 0
ZAYO GROUP HLDGS INC COM 98919V105 20,486 622,683 SH   SOLE   594,991 0 27,692
BASTION ENERGY LLC (ANGLO DUTC LP 065000999 3,411 741 SH   SOLE   741 0 0
ENTERPRISE PRODUCTS PARTNERS L LP 293792107 40,534 1,468,100 SH   SOLE   1,448,300 0 19,800
TALARA OPPORTUNITIES II, LP LP 874111111 2,168 40,519 SH   SOLE   40,519 0 0
WILLIAMS PARTNERS L P COM UNIT LP 96949L105 3,879 95,000 SH   SOLE   95,000 0 0
REAVES UTIL INCOME FD COM SH B CEF 756158101 3,084 95,203 SH   SOLE   19,022 0 76,181