Naval Shipyard, 2 May 1952. Peterson spent the next five years operating with Escort Squadron 10 off the east coast of the United States, from Newport, Rhode Island, to Key West, Florida, and in the Caribbean Sea. During these years she saw considerable duty as Fleet Sonar Schoolship at Key West. In July 1953 she visited Bergen, Norway, and Copenhagen, Denmark. In October 1954 she conducted simulated convoy escort exercises to waters off Hamilton Inlet, Labrador. In July 1955 she cruised to Edinburgh, Scotland, and Copenhagen. In May 1957 while in the Caribbean she tracked Jupiter missiles fired from Cape Canaveral and in August played a vital role in the first successful recovery of a missile nose cone, attaching a buoy-float to the nose cone flotation unit. Peterson put to sea 3 September 1957 with fifteen other warships and eleven auxiliary vessels of Task Force 88.1, bound for Portland, England. She reached Portland 14 September and was underway the next day for strenuous North Atlantic Treaty Organization maneuvers. She conducted independent reconnaissance patrol off Sweden until 19 September when she was joined by Huse (DE-145), two Canadian destroyers and a Dutch cruiser, for patrol off southern Sweden, and then to Frederikshaven, Denmark, where she arrived 23 September. She departed that port in company with Huse the next day for maneuvers in the North Sea and reached Le Havre, France, 30 September. After a visit to Dunkirk, France, she returned to Newport 21 October. Peterson became a unit of the newly created Destroyer Escort Squadron Twelve 1 November and arrived at Key West 24 November for another tour of service as schoolship for the Fleet Sonar School. She departed Key West 23 January 1958 for a Caribbean training cruise with her squadron. In May Peterson assisted in the first recovery of a full-size missile nose cone that had penetrated the atmosphere. She resumed her Fleet Sonar schoolship duty at Key West 22 May 1958 and got underway 8 August for competitive exercises off Guantanamo Bay, Cuba. She arrived Kingston, Jamaica 14 August 1958 and put to sea within fifteen hours on an emergency mercy mission to deliver badly needed water to a rescue tug tending a Greek freighter aground about 150 miles south of Kingston. Peterson resumed schoolship duties at Key West 18 August 1958 and put to sea 3 January 1959 for waters off the north coast of Cuba, standing