Feb 26 (Reuters) - U.S. energy company Public Service Enterprise Group narrowly beat fourth-quarter profit estimates on Monday, benefiting from lower operating expenses.

The company posted an adjusted profit of 54 cents per share for the quarter ended Dec. 31, beating the analysts' average estimate of 52 cents per share, according to LSEG data.

Operating expenses for the quarter fell 12% to $1.9 billion from a year earlier, on the back of lower energy costs.

Other utility peers such as Southern Co and WEC Energy also beat profit estimates, as utility companies continue to bring down operating expenses amid a high-interest rate environment.

Public Service Enterprise Group's operating revenue fell 17% to $2.6 billion during the quarter, primarily driven by a decline in its largest business unit Public Service Electric and Gas (PSE&G).

PSE&G, the unit involved in the transmission and distribution of electricity and natural gas to customers in New Jersey, posted an 8.7% decline in quarterly operating revenue to $1.8 billion, compared with a year earlier.

The company reaffirmed its 2024 adjusted profit forecast to the range of $3.60 per share to $3.70 per share, compared with $3.48 per share reported for 2023. (Reporting by Kabir Dweit in Bengaluru; Editing by Shweta Agarwal)