Margaret "Peggy" Conrad (née Kenter) was the former mistress and second wife of Teddy Conrad. She was formerly married to Teddy's business partner, Robert Kenter. Through her marriage to Teddy, she became the First Lady of Nashville.
Beautiful but with a cunning side, Peggy first appeared at a campaign function for Teddy. She was the wife of a business associate, Robert Kenter.
Coleman Carlisle tried to boost his chances of winning the mayoral race and hired a photographer to follow Peggy and Teddy. They met one night and were snapped holding hands and embracing. The photos were soon leaked to the press and Peggy attempted to take her own life. Rayna confronted Teddy about the photos and he eventually came clean. They decided to divorce.
Peggy leaked news of the divorce to the press, which eventually caused him to break up with her. He met up with her again when he became worried that she might provide evidence of a financial misdeed she'd helped him with years earlier. She told him that she was pregnant.
Peggy miscarried and lied to Teddy about it as she was afraid that he would leave her. She attempted to get pregnant again to hide the loss of the first pregnancy, but was unsuccessful. After the wedding, Peggy faked a miscarriage by getting pig's blood and staging it in the bathroom. Although Daphne accepted her, her relationship with Maddie was strained and the elder Conrad sister rebelled against her.
At the city's first annual Music City Music Festival, Teddy was the intended target of a disgruntled former employee of a subsidiary of Wyatt Industries but Peggy ended up losing her life when Teddy moved the man's arm away as he pulled the trigger when the bullet hit Peggy.