While Dennis was taken off in the 70th minute, Awoniyi came on with six minutes left to play.
Forest have now gone seven consecutive games without a win (six defeats, one draw).
For Wolves it is a return to winning ways after losing their last three fixtures.
Ruben Neves netted the only goal of the game from the penalty spot on 56 minutes, after Harry Toffolo was adjudged to have handled the ball following consultations with VAR.
Forest were awarded a penalty of their own after referee Thomas Bramall visited the Referee Review Area, for a foul on Ryan Yates by Matheus Nunes.
But Jose Sa saved Brennan Johnson’s penalty low to his left to keep Wolves 1-0 ahead.
Forest are rooted bottom on five points in the league table after 10 Premier League games played.
And at Craven Cottage Bournemouth held Fulham to a 2-2 draw.
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