What happened

Units of infrastructure holding operation Brookfield Infrastructure Partners LP (BIP -1.74%) and the companion-stock Brookfield Infrastructure Corp (BIPC -2.29%) were getting hit hard today. Units of the limited partnership were down 4.7% as of 1:10 p.m. ET, and the stock was down 5.2%. If you're keeping score, the S&P 500 was down just 1.3%.

So what

Many stocks involved with infrastructure and energy are falling far more than the stock market overall today. Oil prices were down 9.7% in afternoon trades. The reason seems to be mounting fears over a recession, which could reduce demand for energy and cool off soaring prices.

But what does that have to do with Brookfield Infrastructure? After all, this isn't an energy asset portfolio reliant on high prices to make money. Rather, it's a collection of stable revenue-generating infrastructure concerned with the transportation of energy, freight, and a small data center segment.

Nevertheless, all things related to energy and hard assets are coming under pressure today as oil's value takes a spill. A recession also wouldn't be great for the transportation segment of the business, which was a primary revenue-growth generator in recent quarters. 

In spite of Brookfield Infrastructure taking a hit, units of the LP and the stock are both handily outperforming the market so far this year with returns of negative 7.8% and negative 10%, respectively. The S&P 500 is down 21% so far in 2022.  

Now what

Brookfield Infrastructure announced yesterday that it will release its second-quarter 2022 earnings the morning of Aug. 3. This is a superb collection of assets that will likely continue to generate stable revenue and profitability, and units of the LP and the stock are currently paying an annualized yield of 3.7% and 3.5%, respectively.

If investment income is what you're after, give this limited partnership (or the stock, if you don't want to deal with the extra tax docs of an LP) a look. But expect some bumpy price action ahead as the market continues to grapple with a possible recession.