How to invest in utility stocks now

Whatever you think about utilities, you’re probably wrong. One current narrative about the sector, for example, has it that after years of being more conservative than the broad stock market, utilities suddenly have become riskier. As illustrated by the recent bankruptcy filing of PG&E PCG, -3.89% , California’s largest utility, utilities no longer seem to be the boring stocks paying regular dividends that are appropriate only for widows and orphans. Or so the story goes. Yet this narrative is not helpful...