These are not exclusive to PSE&G lights. There are a ton of these around here, though they seem to be disappearing at a rapid rate.
I believe they are either one of two things.
A) they are "gunshot detectors"
B) they are a network device installed by a utility or telecommunications company.
EDIT:
They are likely old Ricochet Wireless boxes that simply haven't been removed.
Or, from Reddit:
It could be one of several radio systems.
This one is a Landis Gyr/Cellnet systems "router." It is probably for remote readout electric meters on 900 MHz, but the system forms a fairly generic data net that could be used for a number of functions, such as throwing switches to manage loads, reading system conditions, etc. They function as a wireless mesh node or star network.
It gets power from the standardized day/night photocell socket that's on most streetlights.
Photos
A very similar device by the same manufacturer: Photos (PDF) More Docs
Landis Gyr makes a number of different devices with that same basic enclosure. It's also possible that other manufacturers use the identical enclosure or a similar one. Ricochet wireless, a defunct wireless internet provider, used a similar system that is virtually indistinguishable by eye.
See an example of one by my old house
here.