  We report on a series of outbursts of the high mass X-ray binary XTE
J1946+274 in 2010/2011 as observed with INTEGRAL, RXTE, and Swift. We discuss
possible mechanisms resulting in the extraordinary outburst behavior of this
source. The X-ray spectra can be described by standard phenomenological models,
enhanced by an absorption feature of unknown origin at about 10 keV and a
narrow iron K alpha fluorescence line at 6.4 keV, which are variable in flux
and pulse phase. We find possible evidence for the presence of a cyclotron
resonance scattering feature at about 25 keV at the 93% level. The presence of
a strong cyclotron line at 35 keV seen in data from the source's 1998 outburst
and confirmed by a reanalysis of these data can be excluded. This result
indicates that the cyclotron line feature in XTE J1946+274 is variable between
individual outbursts.
