As @kristan mentioned in the comments, these are not the same thing.
A moral is a lesson that can be learned from the story.
Morality is a concept about differentiating between right and wrong.
So, no, we should not merge them.
As @BESW pointed out, 'moral' can also mean right/wrong. However, in literature, a 'moral' has a very specific meaning, and these aren't the same thing.