Key Points PG&E stock is at the mercy of California politicians. That implies high levels of risk that investors can’t ignore. The state assembly recently amended wildfire reform legislation, potentially opening the doors for insurance companies to sue companies like PG&E. 10 stocks we like better than PG&E › As a Californian, I can say this: If there are two industries that residents of the Golden State really don't like, it's insurance providers and utilities. Interestingly, with the state considering wildfire reform legislation, those industries are at odds with one another. That's material for investors considering stocks such as PG&E (NYSE: PCG) .
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