Yes very possible as long as you have verified no Enterprise features are actually in use.
But that being said some enterprise features became available in standard edition from 2016SP1.
The only thing I would say is to test, test, test the living daylights out of everything.
If your planning in changing the compatibility level above 120 you’ll run into the new cardinality estimator and you may or may not notice performance issues you will need to work through.